NSE co-location case: CTO was directly reporting to Subramanian, CBI tells court 

The Central Bureau of Investigation (CBI) told a special court that the former Group Operating Officer of the National Stock Exchange (NSE) and ex-MD and CEO of NSE Chitra Ramkrishna had also visited countries like Mauritius and Seychelles that are known tax havens while opposing Subramanian’s bail plea in the court.

Earlier, the court had sent Subramanian to a 14-day judicial custody after 12 days in police custody. Subramanian worked closely with Ramkrishna, who was arrested by the CBI on Sunday after a special CBI court dismissed her anticipatory bail.

As per the central agency, Subramanian and Ramkrishna visited these countries during the co-location scam and the financial aspects are being probed. The agency said that the accused had “also visited tax haven countries like Seychelles, Mauritius. That needs to be probed. Also need to probe material that suggests there was financial gain by them in foreign companies.”

The agency added, “They visited these countries during the co-location scam. The financial aspects are being investigated.”

It also added that Chief Technology Officer of the NSE was reporting to Anand Subramanian, the former Group Operating Officer of the NSE and advisor to former MD of NSE Chitra Ramkrishna. Subramanian, on the other hand, was reporting to Ramkrishna.

The public prosecutor for the central investigative agency also told the court that the emails have been extracted. According to the public prosecutor, these emails suggest that sensitive information was leaked. Prosecution also cited non-cooperation on the part of Subramanian and said that he allegedly deleted material and certain emails.

The prosecution further underscored, “Anand is very influential and there is every possibility that he might flee. He thought that he will hide under the guise of Himalayan yogi but he got caught. Being the Chief Operating Officer and principal advisor, he was the main advisor to Chitra.”

(With inputs from Aneesha Mathur)

Also read: NSE co-location case: Special Court reserves order on Anand Subramanian's bail plea

Also read: NSE co-location case: CBI court sends Anand Subramanian to 14-day judicial custody