India
Anand Subramanian Denied Bail by Delhi Court in NSE Co-location Scam
Anand Subramanian, the former group operating officer (GOO) of the National Stock Exchange, was denied bail in the co-location fraud case by a Delhi court on Thursday, March 24. After hearing lawyers for the Central Bureau of Investigation (CBI) and Subramanian, who is now in judicial custody, Special Judge Sanjeev Aggarwal issued the decision.
The CBI detained the former NSE senior executive on February 24 and held him in custody for questioning. On March 9, he was placed in judicial detention for 14 days.
As per a court order obtained by Republic, Subramanian pretended to be Himalayan Yogi, with whom the co-accused NSE’s former MD and CEO Chitra Ramakrishna communicated secret information about the company’s structure and operations via email. He is also a flight risk, according to the CIA, and hence should not be released on bond.
“Further, investigations are ongoing, and the investigative agency is uncovering the hidden curtain to reveal the genuine face of this Himalayan Yogi, who is as elusive as mythical Himalayan Yeti,” it said.
Because he was not identified in the First Information Report (FIR) and had no participation in the NSE co-location facility, the former GOO’s lawyer had requested his release on bail. He also refuted Subramanian’s claim to be the “Himalayan Yogi.”
On March 9, the court chastised the CBI for its slow investigation into the matter, claiming that the case’s gravity would be significant and that the country’s prestige would be jeopardized.
In 2018, an FIR was filed under IPC Sections 204 and 120B, as well as the Information Technology Act and the Prevention of Corruption Act, in connection with the NSE co-location scandal.
Brokers might use the National Stock Exchange’s co-location facility to house their servers on the stock exchange’s premises, providing them with speedier access to the markets. CBI claims that certain brokers utilized the algorithm and the co-location facility to generate significant profits in conjunction with insiders.
The investigating agency said that Ramakrishna, who was also detained by the CBI, exploited her position as Managing Director of NSE to designate Subramanian as her Chief Strategic Advisor by creating this office to accommodate and appoint him outside of the NSE’s mandated due processes.
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Navi Mumbai Police Arrest African National With Rs 1 Crore Worth Of Cocaine In Ulwe
The Anti-Human Trafficking Unit (AHTU) of Navi Mumbai Police arrested Jeorge Ocante DaSilva, a 35-year-old native of Guinea, on Monday for possessing 410 grams of cocaine, allegedly intended for illegal sale. Acting on a tip-off, API Alka Patil of the AHTU led a raid at RM Heights Building in Ulwe, where DaSilva was found in possession of the narcotics.
Around 2:30 p.m. on October 28, officers discovered 410 grams of cocaine, valued at approximately Rs 1,02,50,000, hidden in DaSilva’s bedroom. Authorities also seized a mobile phone, a black Tabata weighing scale, scissors, plastic packaging bags, and a sky bag, bringing the total seizure value to Rs 1,02,55,610.
An FIR was filed at Panvel City Police Station under Sections 8(a) and 21(a) of the Narcotic Drugs and Psychotropic Substances (NDPS) Act. Dasilva was presented in court and remanded to police custody until October 31, 2024. Investigations are ongoing, with the Crime Branch seeking potential accomplices and sources of the narcotics. Notably, Dasilva has a prior NDPS case registered at Nahar Police Station in Mumbai.
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Taloja Society Chairman Detained For Allegedly Abusing Residents And Objecting To Diwali Decorations
The chairman of a housing society in Taloja Phase One has been detained by Taloja police following allegations of verbal abuse toward residents, including women, and objections to Diwali lighting in the complex. The incident occurred on Tuesday night, sparking outrage among residents.
According to the police, the chairman is accused of abusing a woman with intent to insult her modesty, provoking a breach of peace, and engaging in criminal intimidation. A formal complaint was filed, and the chairman was promptly taken into custody.
The situation intensified after a video of the incident went viral on social media platform X (formerly Twitter), showing a group of men, allegedly from the housing society, verbally abusing residents and threatening to halt Diwali decorations. The video received widespread attention, with users expressing shock over the treatment of residents.
Police officials confirmed that the chairman’s detention is part of an ongoing investigation into the incident. Residents are awaiting further action as authorities work to address the disturbance and ensure the safety of the community amid Diwali festivities.
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Thane Sees Surge of Nomination Filings for 2024 Vidhan Sabha Election
The final day for filing nominations for the 2024 Vidhan Sabha General Election witnessed a surge of candidates in Thane district, with a total of 281 applications submitted across 18 assembly constituencies. This high turnout signals a competitive race for seats in the upcoming election.
Among the nominees, 114 candidates represent various political parties, while 167 have filed as independents, reflecting a diverse array of participants aiming to represent Thane’s voters. Nominations were filed throughout the day with election decision officers at each constituency, marking an essential step in the electoral process.
Collector and District Election Decision Officer Ashok Shingare announced that the scrutiny of these nomination forms is scheduled for October 30, 2024. Following this verification process, candidates who wish to withdraw their names from the race may do so until November 4, 2024.
As the election date approaches, Thane’s political landscape appears more dynamic than ever, with a record number of candidates ready to contest the assembly seats, making for an engaging electoral season for voters and candidates alike.
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