NEW DELHI: The Central Bureau of Investigation (CBI) on Saturday conducted searches against brokers at more than 10 locations in Delhi, Mumbai, Kolkata, Gandhinagar, Noida and Gurugram in connection with the National Stock Exchange (NSE) co-location scam case, said sources.
On Friday, the Delhi High Court issued notice to the CBI on Chitra Ramakrishna’s bail plea in the case.
The CBI had in March arrested Chitra Ramkrishna, former managing director and chief executive officer of the National Stock Exchange (NSE). Anand Subramanian, Group Operating Officer and Advisor to the MD was arrested in February in connection with the NSE co-location case.
The CBI said that the investigation reveals that accused Chitra Ramakrishna, by misusing her official position, re-designated the post of accused Anand Subramanian as Group Operating Officer and Advisor to MD from April 1, 2015, without bringing the same to the notice of NRC and the board.
The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchanges to the stockbrokers.
Earlier, the Securities and Exchange Board of India (SEBI) penalised the National Stock Exchange and its former CEOs Chitra Ramakrishna and Ravi Narayan and two other officials for lapses in recruitment at the senior level.
Ravi Narain was the MD and CEO of the National Stock Exchange from April 1994 till March 2013, while Chitra Ramkrishna was the MD and CEO of the NSE from April 2013 to December 2016.
The market regulators observed that the NSE and its top executives violated securities contract norms relating to the appointment of Anand Subramaniam as group operating officer and adviser to the managing director. (ANI)