Delhi High Court Requests Probe Agency’s Position Regarding Ex-NSE Chief’s Bail Plea

On Wednesday, the Delhi High Court requested the Enforcement Directorate's (ED) position regarding Chitra Ramkrishna's bail request in connection with a money laundering case involving allegations of illegal phone tapping and employee spying at the National Stock Exchange (NSE).
Ramkrishna, a former managing director of NSE, requested bail, and Justice Jasmeet Singh gave notice of his request and gave the investigating agency time to respond.

Ramkrishna claimed that no scheduled offense was established against her and that the charges did not meet the Prevention of Money Laundering Act requirements. Senior counsel Rebecca John represented her.

She was detained on March 6 by the CBI in connection with a case involving an alleged co-location fraud that was filed in May 2018 at NSE.

The high court granted her bail in the CBI case earlier in the day.

According to the ED, former NSE CEO Ravi Narain, Ramkrishna, Executive Vice-President Ravi Varanasi, Head (Premises) Mahesh Haldipur, and others allegedly plotted to defraud NSE and its employees between 2009 and 2017. To accomplish this, they reportedly hired iSEC Services Pvt Ltd to illegally intercept the phone calls of NSE employees under the pretense of conducting a recurring study of NSE's cyber

In 2009, Ramkrishna was chosen to serve as a Joint MD and held the position until March 31, 2013.

April 1, 2013, saw her promoted to MD and CEO.

The trial judge turned down Ramkrishna's request for bail last month.

The trial judge had stated that bail could not be granted at this time while denying her request for release.

The trial court had ruled that the accused had violated the confidence placed in her about NSE's funds and property, as well as the privacy and confidentiality of its workers.

On October 28, the subject would be heard again.

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