Spl Court reserves order on Anand Subramanian's bail plea on NSE co-location case
Spl Court reserves order on Anand Subramanian's bail plea on NSE co-location case
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In the ongoing NSE co-location case, a special court of the Central Bureau of Investigation (CBI) has reserved its decision on the bail plea of Anand Subramanian, former Group Operating Officer and advisor to former MD of National Stock Exchange (NSE) Chitra Ramkrishna.

Subramanian had previously been sent to 14 days in judicial custody following 12 days in police custody.  Subramanian closely worked with Ramkrishna, the former CEO of the NSE. On Sunday, she was arrested by the CBI after a special CBI court denied her anticipatory bail. According to officials, she was arrested in Delhi and taken to a hospital for a medical examination before being locked up at the CBI headquarters.

According to the complaints received by SEBI, Subramanian was hired at such a senior level despite having no prior experience in the finance sector. He was also paid significantly more than the majority of NSE's seniors.

The arrest was made in connection with the co-location scam, for which a FIR was filed in May 2018, amid new revelations about irregularities at the country's largest stock exchange.

The CBI is investigating the alleged improper dissemination of information from market exchange computer servers to stock brokers.

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