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.
Latest News
Residents Urge Ganesh Naik to Relocate Amazon Data Centre Away from Neighborhood
Local citizens express deep concerns over constant noise, extreme heat generation, and safety risks near homes.
The Urge
Growing anxieties over industrial development encroaching on residential peace have prompted local citizens to seek political intervention against a major technology infrastructure project. Residents have formally approached senior leader and MLA Ganesh Naik, urging him to push for the relocation of a proposed Amazon data centre away from their living spaces.
The planned facility has triggered strong pushback from neighboring families who fear the severe, round-the-clock environmental toll of high-density computing infrastructure. Among their primary concerns are the massive cooling systems and heavy-duty backup generators required to run the facility, which residents warn will produce relentless noise pollution and significantly raise local temperatures.
Additionally, community members raised red flags regarding safety risks, the immense drain on local electricity grids, and the overall decline in neighborhood quality of life. Pushing for a sensible resolution, the residents requested Naik to take up the matter with municipal and state authorities to shift the data centre into a designated industrial zone or a non-residential sector.
“Living right next to an industrial-scale facility jeopardizes our peace, safety, and daily living conditions,” expressed a concerned resident, emphasizing that heavy tech infrastructure belongs far from residential quarters.
As public pressure mounts, residents hope local leadership will successfully intervene to protect their community’s environment and residential character.
Latest News
Shiv Sena Opposes Turbhe Waste-to-Energy Project Over Corruption Allegations
Party leaders demand cancellation of the Rs 2,200 crore tender, alleging contractor irregularities and health risks to local residents.
The Project
A major political controversy has erupted around the Navi Mumbai Municipal Corporation (NMMC) following strong opposition from Shiv Sena leaders against the proposed Waste-to-Energy project at the Turbhe dumping ground. The project, designed to generate compressed biogas (CBG) from city garbage, has run into severe pushback over claims of massive financial irregularities.
Speaking out on behalf of local communities, Shiv Sena corporator Aniket Mhatre accused municipal officials and political figures of orchestrating a Rs 2,200 crore scam through flawed tender procedures. Party members claim that the selected contractor fails basic eligibility criteria, suggesting that rules were intentionally bypassed during the bidding phase to favor specific interests.
Beyond financial concerns, local leaders highlighted the growing health hazards faced by residents living near the Turbhe site. Pushing for long-term relief, Shiv Sena has urged the Environment Minister to intervene, initiate a formal technical probe into the tender process, and penalize any non-compliant contractors involved.
“We cannot allow public health and civic funds to be compromised,” stated Mhatre, insisting that the entire contract be scrapped and the dumping facility relocated far away from residential zones. With Shiv Sena demanding immediate cancellation of the project, mounting political pressure could force NMMC to re-evaluate its plans for the Turbhe facility.
Latest News
MNS Threatens Protests Over Unpaid Allowances for Navi Mumbai Civic Workers
Party sets deadline for NMMC to clear long-pending dues, warning of citywide agitations if demands remain ignored.
The Protest
A growing dispute over unpaid allowances has pushed municipal sanitation staff, contract workers, and civic employees to the brink of a major showdown with the NMMC. Stepping in on behalf of the struggling workforce, the Maharashtra Navnirman Sena (MNS) has issued a stern ultimatum to civic authorities: clear the financial backlogs immediately or face aggressive street protests.
For months, essential municipal workers many of whom form the backbone of the city’s daily sanitation and administrative operations have been waiting on crucial arrears. These include pending festival bonuses, hazard allowances, and overtime payments that remain tangled in administrative red tape. Labor leaders allege that despite repeated appeals, municipal leadership and third-party contractors continue to push back payouts, leaving hundreds of low-income families in distress.
Taking up the mantle through its labor union wing, the Maharashtra Navnirman Kamgar Sena, MNS representatives formally handed a memorandum of demands to the NMMC Commissioner. Party leaders warned that patience among the workforce has worn thin.
“These workers keep the city running every single day, yet they have to fight for basic wages and earned allowances,” said a party spokesperson. “If NMMC administration does not settle these dues without further delay, we will take to the streets and shut down operations at headquarters.”
While NMMC officials maintain that administrative procedures are underway to resolve the billing discrepancies, the threat of an imminent agitation leaves Navi Mumbai facing potential disruption to its essential public services.
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