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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MNS Exposes Alleged Fake Voters in Navi Mumbai Through Photo Exhibition
The Maharashtra Navnirman Sena (MNS) held a unique photo exhibition in Vashi, Navi Mumbai, to highlight alleged irregularities in the city’s voter list ahead of the upcoming civic elections. The exhibition, inaugurated by Amit Thackeray, displayed photographs and details of voters reportedly registered at invalid or unusual addresses.
According to MNS officials, several names were found listed at locations such as public toilets, footpaths, roadsides, railway stations, and even the municipal commissioner’s residence. The party claimed that around 127 voters were registered at the commissioner’s residence, 250 voters along Palm Beach Road, and multiple entries at other non-residential areas across the city.
Party leaders said the aim was to draw attention to the issue of bogus voter registrations and demand corrective action from election authorities to ensure fair and transparent elections. “This exhibition exposes how thousands of fake voters could influence the outcome of civic polls if not rectified,” said an MNS representative during the event.
However, the Thane District Administration refuted the allegations, stating that no fake voter registrations were recorded at those addresses. Officials clarified that certain entries merely used landmarks such as ‘Nerul Railway Station’ or similar references for voter location purposes, not as actual residential addresses.
The MNS has urged the State Election Commission to initiate a thorough verification drive to clean up the electoral rolls and maintain the integrity of the democratic process in Navi Mumbai.
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Navi Mumbai Couple Booked for Cheating Tenants of ₹25 Lakh
The Kharghar police have registered a case against a Navi Mumbai-based couple for allegedly cheating three tenants of a combined sum of Rs 25 lakh by promising them rental flats that were never handed over. The accused have been identified as Krishna Poojari and Geetha Poojari, residents of Meghna Heights in Sector 34A, Kharghar.
According to police sources, between April and June 2024, the couple entered into registered rental agreements with three individuals, offering them flats in the same building — one on the 9th floor and two on the 8th floor. Instead of charging monthly rent, the Poojaris allegedly collected large “one-time deposits” from each tenant, assuring them possession of the flats. However, after receiving the money, they neither handed over the flats nor refunded the deposits.
When repeated requests for refunds went unanswered, the victims approached the police. Following an investigation, the Kharghar police station registered an FIR against the couple for cheating, criminal breach of trust, dishonest inducement, and criminal intimidation under relevant sections of the Bharatiya Nyaya Sanhita.
Officials stated that efforts are underway to trace the accused, who are currently untraceable. The police have also appealed to other possible victims to come forward, suspecting that more people might have been duped using the same fraudulent rental scheme.
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Man Beaten to Death Over Mobile Theft Suspicion in Navi Mumbai
In a shocking incident in Navi Mumbai’s Turbhe area, a 34-year-old man was brutally beaten to death by his cousin and an accomplice over the suspicion of stealing a mobile phone. The deceased has been identified as Sudhakar Patole, while the prime accused is his cousin Arjun Adagale (55), assisted by Vidhan Mandal, both of whom worked at a local public toilet.
According to police officials, Adagale suspected that Patole had stolen his mobile phone. On Thursday morning, the accused allegedly called Patole out of his home under the pretext of having a drink together. The trio went to a nearby public toilet, where they consumed alcohol before Adagale and Mandal launched a violent assault on Patole. He succumbed to his injuries on the spot.
The incident came to light after locals discovered Patole’s body and informed the police. The body has been sent for post-mortem examination. Meanwhile, Turbhe Police have registered a case of murder under Section 103(1) of the Bharatiya Nyaya Sanhita (BNS) and have begun an intensive manhunt to trace the absconding accused.
Investigators are also scanning nearby CCTV footage to gather evidence and determine the sequence of events leading to the fatal attack. Authorities have condemned the incident, calling it a tragic example of how personal disputes can escalate into violent crime.
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