Mumbai The Central Bureau of Investigation (CBI) on Sunday night arrested Chitra Ramakrishna, former chief executive officer of the National Stock Exchange of India Limited (NSE), an agency official said.
He has been arrested for his role in the so-called co-location case, in which some brokers used NSE’s co-location services between 2010 and 2014 to gain preferential access to NSE’s platform.
The arrest comes after a special CBI court on Saturday rejected his anticipatory bail plea.
The CBI had told the court that Ramakrishna was evasive in his replies when he was questioned by the agency last month.
The special CBI court rejected his anticipatory bail plea observing that co-location case could result in huge loss of public money or money and thus needs to be looked into seriously.
Ramakrishna is a graduate of RA Podar College of Commerce and Economics (in Mumbai) and is a Chartered Accountant by qualification. He took over as the Managing Director and CEO of NSE in April 2013 and resigned from his position in November 2016.
Ramakrishna was not named in the CBI FIR registered in 2018 in the co-location case, but due to the SEBI order, the CBI expanded the scope of the original case.
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