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CBI Has Made Significant Progress In NSE Co-location Scam : FM Sitharaman

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The day after a special court in Delhi granted the Central Bureau of Investigation (CBI) permission to collect handwriting samples from Ex NSE Managing Director and Chief Executive Officer Chitra Ramakrishna about the National Stock Exchange (NSE) co-location fraud, Finance Minister Nirmala Sitharaman responded to the case in the Rajya Sabha on Tuesday, briefing on the information received so far regarding the scam.

The Finance Minister stated in her Rajya Sabha reply, “In the case of NSE co-location, the government and SEBI had received certain concerns. During the investigation, it was discovered that select stockbrokers were given priority access to the trading system. NSE, NSE’s prior CEOs, and key executives have all been held accountable for their failures in this area.”

“They have been subjected to monetary penalties and other limitations. In 2018, the CBI opened an investigation into the subject, citing pertinent sections of the Indian Penal Code, 1860, the Prevention of Corruption Act, 1988, and the Information Technology Act, 2000. The probe by the CBI is still ongoing. The CBI has stated that significant progress has been made in the case investigation “FM Sitharaman went on to say.

Scam using NSE co-location

The CBI is looking into the improper distribution of data from computer servers to stockbrokers. Brokers might use the NSE’s co-location facility to house their servers on the exchange’s facilities, giving them faster access to the markets. To make money, several brokers allegedly altered the algorithm and the co-location facility with the help of insiders.

Anand Subramanian, the former group operating officer (GOO) of the NSE, was denied bail by a Delhi court on March 24. On February 24, the CBI arrested him and remanded him in custody for questioning. On March 9, he was placed in judicial custody for 14 days. On the other hand, Chitra Ramkrishna, the former MD and CEO of the NSE, had her judicial detention extended until March 28 on March 14. On March 6, she was taken into custody.

After a SEBI probe indicated that she had been advised by a mysterious spiritual guru for the last 20 years in crucial NSE decisions, the Income Tax officials raided ex-NSE MD Chitra Ramkrishna and Anand Subramanian on February 17. The NSE, Chitra Ramkrishna and Ravi Narayan, as well as two other employees, were fined by the SEBI for recruiting mistakes at the senior level. From April 1994 until March 2013, Ravi Narain served as the NSE’s Managing Director and Chief Executive Officer, while Ramkrishna served as the NSE’s MD and CEO from April 2013 to December 2016. The NSE and its senior officials broke securities contract rules when they appointed Subramaniam as group operations officer and advisor to the managing director, according to the market regulator.

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NMMC Steps Up Road Repairs Ahead of Ganeshotsav

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Potholes and damaged roads to be fixed on key routes used for Ganesh idol processions and immersions.

The Repairs

With Ganeshotsav just around the corner, the Navi Mumbai Municipal Corporation (NMMC) has stepped up efforts to make city roads safer and smoother for residents and devotees.

NMMC Commissioner Dr. Kailas Shinde has directed officials to inspect damaged roads and take up urgent repairs, with priority being given to routes that will witness the movement of large Ganesh idols and immersion processions. Engineering teams are inspecting roads for potholes, uneven surfaces, damaged manholes and problems with storm-water drains. Since the monsoon is still active, temporary repairs are being carried out using materials such as cold mix and mastic geopolymer. Permanent road surfacing will be taken up once there is a sufficient break in the rainfall.

To improve monitoring, officials are also geo-tagging potholes so that their locations can be tracked and repairs can be completed without missing important stretches. The civic body is also working on improving street lighting, cleanliness and facilities at immersion points to make the festival more convenient for citizens.

For many residents, smooth roads are more than just a civic issue during Ganeshotsav they are essential for ensuring that processions can move safely and families can participate in the celebrations without worrying about potholes and damaged stretches. NMMC has also appealed to citizens to cooperate with the civic authorities and celebrate the festival responsibly, while keeping the city clean and environmentally friendly.

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NMMC Orders Crackdown on Footpath Encroachments Near Schools

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Civic chief directs action against illegal hawkers, pan shops and late-night food stalls ahead of Ganeshotsav.

The Hawkers

With Ganeshotsav approaching, the Navi Mumbai Municipal Corporation (NMMC) has stepped up preparations to make roads and public spaces cleaner and safer. NMMC Commissioner Dr. Kailas Shinde has ordered a special drive against footpath encroachments and unauthorised stalls, particularly near schools, hospitals, railway stations and busy markets.

Ward-level teams will be formed to identify and remove illegal encroachments. While authorized hawkers may be shifted to suitable alternative locations, unauthorised vendors will face immediate action.

A major focus will be on pan shops operating near educational institutions. Officials have been instructed to ensure that no pan shop operates within 50 metres of a school or college. The civic body will coordinate with school authorities and the police to prevent young people from being exposed to tobacco and narcotic substances.

NMMC will also deploy night squads to tackle illegal food stalls on public roads. Such stalls will not be permitted to operate beyond 11 p.m. The Commissioner has further directed officials to repair potholes, trim trees along Ganesh procession routes, improve street lighting, remove unauthorised banners and prepare artificial immersion ponds. The civic body’s latest instructions aim to ensure that residents can celebrate the festival in a cleaner, safer and more organised Navi Mumbai.

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NMMC Music Teacher Nilima Upadhyaya Nominated for Best Teacher Award

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Her dedication to music and students earns recognition at the Best Teacher 2026 Awards.

The Award

Music teacher Nilima Upadhyaya from NMMC CBSE School No. 94 in Kopar Khairane has been nominated for the prestigious Best Teacher 2026 Award, recognizing her dedication to music education and her students.

A trained Hindustani classical vocalist, Upadhyaya has been encouraging children to explore music while helping them develop confidence, discipline and stage presence. For her, teaching music is not just about learning notes and songs it is about helping children discover their own voice.

Her efforts have also brought recognition to the school. Last year, the school’s music group, trained under her guidance, won a district-level trophy at an NMMC-organised music competition. Upadhyaya’s connection with music began at the age of three, when she started learning from her mother. Even after becoming a teacher, she continued to learn from different music gurus and work on improving her own skills.

The award nomination has added another proud moment to her journey. She believes that watching her students perform confidently and develop a genuine love for music is one of the most rewarding parts of her profession.

Upadhyaya will be honoured at an event scheduled to be held on September 6 in Ulwe, celebrating teachers who have made a meaningful difference through their work.

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