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In the NSE case the CBI is expected to detain Chitra Ramakrishna

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Sources tell that Chitra Ramakrishna, the former chief of the National Stock Exchange (NSE), is likely to be detained by the Central Bureau of Investigation (CBI) after a Delhi court denied her anticipatory bail appeal on Saturday.

Chitra Ramakrishna had filed a court appeal seeking protection from the CBI’s detention. After the agency objected, her application was denied.

Officials may arrest her shortly, according to sources, but if she goes to the high court, the CBI will have to wait for an order.

Chitra Ramakrishna, NSE’s former Managing Director, and Chief Executive Officer are being investigated for allegedly sharing private NSE information with a “yogi who resides in the Himalayas.”

CBI officers had previously questioned her in Mumbai. Anand Subramaniam, her suspected close friend, and former Group Operating Officer of NSE was previously detained by the CBI.

Officials claim that the suspected discriminatory activities in NSE took place between 2010 and 2015. Ravi Narain was the NSE’s Managing Director and Chief Executive Officer until March 2013. At the time, Chitra Ramakrishna was the company’s, Deputy CEO. She succeeded Ravi Narain as CEO of the NSE, which she led until December 2016.

According to sources, the CBI took action in response to recent SEBI findings (Securities and Exchanges Board of India).

“As during inquiry into the matter of co-location facilities at NSE, SEBI came across all these documentary evidence, which illustrated that Notice No. 1 [Chitra Ramakrishna], former MD & CEO of NSE, had disclosed certain internal confidential information of NSE, viz., organizational structure, dividend scenario, financial results, human resources policy, and related issues, response to the regulator, etc., with an unfamiliar persuasion,” the SEBI said in its order on February 11.

According to sources, the CBI has new evidence in the co-location case against Chitra Ramakrishna.

In 2018, the CBI filed an FIR in a co-location case on the court’s directives. The CBI case involves a stockbroker who allegedly corrupted the NSE’s system with the cooperation of then-top officials to acquire access to the markets before anyone else when they opened.

Sanjay Gupta (promoter of OPG Security Pvt Ltd), Aman Kokrady, his brother-in-law, and data cruncher and researcher Ajay Shah, as well as anonymous NSE and SEBI employees, were listed as suspects in the investigation by the CBI.

The broker’s computer is located in the same area as the stock exchange’s server, which is known as co-location.

In comparison to other brokers, this gives brokers a time advantage. The broker whose computer is housed in the NSE’s server room has first access to market data, allowing them to profit handsomely from stock trading.

In the CBI investigation, broker Sanjay Gupta reportedly had access to the NSE’s co-location facility, allowing his firm, OPG Security Pvt Ltd, to acquire early access to data and earn massive financial profits.

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Fruit Prices Rise at Navi Mumbai APMC as Supply Falls

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Shravan demand and monsoon-related disruptions push up prices of several fruits ahead of the festive season.

The Prices

Fruit lovers in Navi Mumbai may have to spend a little more this festive season as several fruit prices have increased at the APMC market due to a drop in arrivals and steady demand during Shravan.

Traders said the monsoon has affected fruit production and transportation in several parts of the state. Heavy rainfall can damage crops, cause fruits to fall from trees and increase the risk of pests and diseases. Difficulties in harvesting and transporting produce have further reduced supplies reaching the market.

The impact is visible in the prices of several fruits. Orange arrivals reportedly fell sharply from 190 quintals on August 18 to just 22 quintals on August 27, while the average price increased from Rs 75 to Rs 90 per kg.

Guava saw an even bigger drop in arrivals, falling from 1,925 quintals to just four quintals. Its average price increased from Rs 55 to Rs 65 per kg. Mosambi prices also rose from Rs 45 to Rs 55 per kg. However, the trend has not been the same for every fruit. Pomegranate arrivals declined from 1,589 to 795 quintals, but its average price fell slightly from Rs 135 to Rs 130 per kg. Pineapple prices remained around Rs 55 per kg despite lower arrivals.

With Ganeshotsav and Navratri approaching, traders expect demand for fruits to increase further. If supplies remain affected by the monsoon, consumers could see higher prices in the coming weeks.

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19-Year-Old Youth Murdered at Vashi Mini Seashore

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Sharp-weapon attack in the early hours leaves local residents shocked, police teams launch hunt for unidentified attacker.

The Murder

A 19-year-old youth was allegedly murdered at Vashi’s Mini Seashore in the early hours of Saturday, leaving residents and visitors shocked.

The deceased, identified as Sujalkumar Mahato, was a resident of Koparkhairane and worked at a Chinese restaurant. According to the police, the incident took place at around 4 a.m., when an unidentified person allegedly attacked Mahato with a sharp weapon.

Mahato suffered multiple serious injuries to his head and died at the spot. The attacker fled from the area before the police arrived. After receiving information about the incident, police teams, Crime Branch officials and forensic experts reached the Mini Seashore and began collecting evidence from the scene.

Investigators are now examining CCTV footage from the area and questioning people who knew the victim in an attempt to identify the accused. Several police teams have reportedly been formed to trace the attacker.

The motive behind the killing remains unclear. Police are investigating different possibilities, including a personal dispute or other reasons that may have led to the attack. The use of a sharp weapon has also raised questions about a possible connection with the so-called “koyta gang”. However, police have not confirmed any involvement of an organised gang at this stage.

The incident has once again raised concerns about safety in public spaces during the early hours. Police officials said the investigation is underway and the exact motive will be established as more evidence comes to light.

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Seawoods Station Under Scanner Over Cleanliness, Basic Facilities

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Commuters raise concerns over poor maintenance, cleanliness and missing facilities at one of Navi Mumbai’s busiest railway stations.

The Station

Seawoods railway station, once seen as a modern and well-developed transport hub, is now facing criticism from commuters and residents over its poor maintenance and lack of basic passenger facilities.

According to local residents, issues such as garbage, stagnant water, muddy patches, paan stains, graffiti and water leakage have become common at the station. Despite repeated complaints over the past one-and-a-half years, commuters say several problems remain unresolved.

The Seawoods Citizen Welfare Association has urged the authorities to take immediate action and conduct a detailed inspection of the station. The association has highlighted concerns related to cleanliness, toilets, footpaths, water leakage, ticket facilities and accessibility for senior citizens and persons with disabilities. Residents have also demanded a properly illuminated station name board on the eastern side, a ticket counter near the eastern entrance and electronic train information boards to make commuting easier.

The station involves multiple agencies, including Central Railway, CIDCO, L&T and NMMC, which has reportedly made it difficult to determine responsibility for certain maintenance issues. A joint inspection has already been carried out, with officials assuring residents that further inspections and corrective measures will follow.

For daily commuters, however, the expectation is simple a railway station should be clean, safe and convenient. They now want action on the ground rather than more assurances.

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