Home / News / India /  Delhi HC grants bail to Ex-NSE chief Chitra Ramkrishna in phone tapping case

The Delhi High Court granted bail to Chitra Ramkrishna on 9 February in money laundering case related to alleged illegal phone tapping and snooping of the National Stock Exchange (NSE) employees.

The order was pronounced by Justice Jasmeet Singh. The former NSE managing director, who was earlier arrested by the CBI in the alleged NSE co-location scam, was arrested in the present case by the Enforcement Directorate on July 14 last year.

Earlier in September, she was granted bail to Chitra Ramkrishna and ex group operating officer Anand Subramanian in the co-location scam case being probed by the CBI. In December 2022, she was granted bail by a Delhi court in a case related to alleged illegal phone tapping of NSE employees. Ramkrishna was granted bail by Special Judge Sunena Sharma on a personal bond of 1 lakh with two sureties in the like amount.

The phone tapping case, according to the ED, pertained to a period from 2009 to 2017 when former NSE CEO Ravi Narain, Ramkrishna, Executive Vice-President Ravi Varanasi, and Head (Premises) Mahesh Haldipur and others conspired to cheat NSE and its employees and for the purpose, engaged iSEC Services Pvt Ltd for illegal interception of phone calls of employees of the NSE in the guise of doing periodic study of cyber vulnerabilities of the NSE.

Seeking bail, Ramkrishna had argued that no scheduled offence was made out against her and the allegations also did not fall within the rigours of the Prevention of Money Laundering Act .

Ramkrishna was appointed as Joint MD NSE in 2009 and remained in the position till March 31, 2013. She got elevated as MD and CEO on April 1, 2013. Her tenure at NSE ended in December 2016.

(With inputs from PTI)


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