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[NSE co-location scam] Delhi High seeks response from CBI on bail plea of Chitra Ramkrishna

Ramkrishna is accused of frequently revising the designation and compensation of another former NSE employee Anand Subramanian.

The case stems from a February 11 order of the Securities and Exchange Board of India (SEBI) which found that Ramakrishna had allegedly involved in financial misdeeds relating to fixation and frequent revision of compensation of another former NSE employee Anand Subramanian’s in a disproportionate manner. She is alleged to have done this in cahoots with someone whom she claimed to be a “Siddha Purusha”.

To contest this claim, it was contended by Ramkrishna that being the managing director, she had the bandwidth to determine the salary of any consultant and such emoluments were within such bandwidth on the basis the experience Subramanian brought to the table.

The other allegation against Ramkrishna was that she in touch through e-mails with the Himalayan Yogi who the CBI later claimed to be none other than Subramanian.

The CBI has said that Subramanian while performing public duty to protect the interest of common investors, indulged in criminal conspiracy with other co-accused and caused huge advantage to various trading members/brokers and thus committed a serious economic offence.

However, Ramkrishna had told the lower court that she had no connection with brokers and as per the investigation none of them had been arrested.

Source: Barandbench

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