In the co-location scam case being investigated by the Central Bureau of Investigation, the Delhi High Court granted statutory bail to the former National Stock Exchange (NSE) CEO Chitra Ramkrishna and the former Group Operating Officer Anand Subramanian (CBI).
In the instant case titled Chitra Ramakrishna v. CBI, Anand Subramaniam v CBI the issue raised before the Delhi High Court was:
Whether regular bail can be granted?
With regard to the issue, the court gave statutory bail to the two former NSE employees. In a bail application of Ramkrishna in the illegal phone tapping case where she along with others have been accused of authorising iSEC Services Pvt Ltd, a company owned by former Mumbai Police Commissioner Sanjay Pandey, to snoop on NSE employees. The Court gave time to the investigating agency to file its response.
Ramkrishna is accused of hiring Subramanian as a consultant at NSE without following the proper protocol and under duress from the HR Department, according to the CBI.
The FIR was filed in 2018 and covered offences under the Information Technology Act and the Prevention of Corruption Act as well as IPC Sections 204 (destruction of document or electronic evidence) and 120B (conspiracy).
The charge sheet, filed before a Special CBI court at Rouse Avenue District Courts a couple of months ago, stated that Ramkrishna first brought Subramanian on board NSE as the chief strategic adviser and subsequently re-designated him as the GOO-cum-Adviser overlooking recruitment rules. The CBI also charged that Rs. 4 crore salary to Subramanian was in contravention with the existing appointment rules.
Ramkrishna and Subramanian came to Delhi High Court after their bail was rejected by the Special Judge of Rouse Avenue Courts on May 12. They are facing charges of destruction of evidence under Section 204 and for hatching criminal conspiracy under (120B) of the Indian Penal Code and other offences under the Information Technology Act and Prevention of Corruption Act.
Hence, statutory bail is granted to Chitra Ramakrishna and Anand Subramaniam.