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Chitra Ramkrishna has been placed in the custody of CBI

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Former National Stock Exchange (NSE) CEO Chitra Ramkrishna has been placed in the custody of the CBI for seven days. In the co-location scam case, she was arrested in New Delhi by the primary investigating agency on Sunday.

In its judgment, the court stated that Ramkrishna shall be questioned by the Central Bureau of Intelligence (CBI) while being monitored by CCTV. The court has ordered that Chitra Ramkrishna be subjected to a medical examination every 24 hours while permitting her lawyers to visit with her every evening.

The public prosecutor stated Ramkrishna was “not cooperating with the inquiry” and had to face “almost 2,500 incriminating emails” when he presented the CBI’s case to Special Judge Sanjeev Aggarwal.

The CBI further claimed that the former NSE CEO “refused to reveal any past relationship” with co-accused Anand Subramanian, even refusing to acknowledge him.

The magistrate, on the other hand, questioned the CBI about the investigation’s poor pace and why other people identified in the FIR had not been arrested yet.

“What about the other defendants identified in the FIR? They are the primary recipients. So, how about them? No action was taken for four years. FIR was kept in a cold storage facility “The judge made a remark.

“It would seem that the custodial inquiry of the above suspected would be required to find out the thorough modus operandi embraced by this accused person in conspiracy with other co-accused individuals involved in the present case, such as co-accused Anand Subramanian, the present case may be of unimaginable magnitude,” the court stated in its order granting Ramkrishna’s custody to the CBI.

The court further stated that Chitra Ramkrishna would be subjected to a solitary interview to confront Anand Subramanian, who is now in police custody.

The court order stated that this could assist investigators in “finding out the full ramifications of the transactions in question, as well as digging out voluminous digital evidence about this case, as well as finding out the role of other players in this case of swindling institutional investors, foreign institutional investors, and honest retail investors.”

For the next hearing, in this case, Ramkrishna will be brought before the court on March 14.

What is the scam of co-location?

The CBI had questioned her for three days in a row before arresting her and searching her home.

Ramkrishna, who was the Chief Executive Officer (CEO) of NSE from 2013 to 2016, was also questioned by a top psychologist from the Central Forensic Science Laboratory.

On Sunday, the CBI arrested her on suspicion of giving evasive replies during the interview. Her anticipatory bail motion was denied by a Delhi court on Saturday.

In 2018, the CBI filed an FIR about the co-location scam. According to the CBI, the case includes a Delhi-based stockbroker who, according to the CBI, was able to obtain knowledge regarding stock trades ahead of others.

The matter came to light after the Securities and Exchange Board of India (Sebi) charged Chitra Ramkrishna and others with unfair conduct on February 11, including the nomination of Anand Subramanian as group operating officer of the National Stock Exchange of India (NSE).

SEBI also revealed in its order that Ramkrishna communicated private information regarding the National Stock Exchange via email with a “mystery yogi.” Many people connected with the case believe it was Anand Subramanian who was the “mystery yogi.”

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Housing Sales Dip Across Major Cities, But Navi Mumbai Bucks the Trend

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Home sales fell 6% in the July–September quarter, while Navi Mumbai recorded a 12% rise in demand.

The Dip

The housing market across India’s major cities saw a slowdown in the July–September quarter, but Navi Mumbai stood out with a rise in home sales.

According to a PropEquity report, housing sales across nine major cities fell by 6% year-on-year, with around 1.03 lakh homes sold during the quarter. Several major markets recorded a decline, including Pune, Chennai, Thane, Mumbai and Delhi-NCR.

Navi Mumbai, however, moved in the opposite direction. The city recorded a 12% increase in housing sales, with around 9,810 units sold, compared with 8,730 units during the same period last year. Hyderabad also reported an increase, while Bengaluru remained almost stable. The growth in Navi Mumbai comes despite the broader slowdown in the housing market.

New housing launches also declined during the quarter, indicating that developers are becoming more cautious about adding fresh inventory. Across the nine cities, about 98,165 new housing units were launched, lower than the previous year. Industry experts said the July–September period is generally affected by the monsoon, which can temporarily slow homebuying activity. The festive season from October onwards is expected to bring renewed interest from buyers, with developers likely to introduce new projects and promotional offers.

For Navi Mumbai, the rise in sales highlights continued demand for housing in the region, even as buyers in several other major cities remained more cautious.

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8,573 Ganesh Idols Immersed Across Navi Mumbai on Anant Chaturdashi

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Thousands of devotees bid an emotional farewell to Bappa as civic teams ensured smooth and safe immersion arrangements.

The Visarjans

Navi Mumbai witnessed a grand and emotional conclusion to the 10-day Ganeshotsav as 8,573 Ganesh idols were immersed across the city on Anant Chaturdashi.

The immersion process continued through the night and was completed at around 5:30 a.m., with devotees turning up in large numbers to bid farewell to Lord Ganesha. Despite the crowds, the arrangements helped the process continue smoothly.

According to the Navi Mumbai Municipal Corporation (NMMC), the idols were immersed at 189 designated locations. These included 22 natural immersion sites and 156 artificial ponds. Of the total idols, 8,125 were household Ganesh idols, while 448 belonged to public Ganesh mandals. The civic body deployed lifeguards, volunteers, fire brigade personnel, medical teams and other staff at various locations. CCTV cameras, barricades, lighting, drinking water and first-aid facilities were also arranged to assist devotees.

The celebrations also saw citizens opting for more environmentally friendly practices. Around 1,420 Shadu clay idols were immersed, while artificial ponds helped reduce pressure on natural water bodies. NMMC workers also collected around 10.95 tonnes of nirmalya, including flowers and other offerings. The collected material was sent for composting instead of being dumped.

The peaceful conclusion of the immersion was made possible through the cooperation of devotees, volunteers and civic workers, bringing this year’s Ganeshotsav to a heartfelt close across Navi Mumbai.

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Traffic Jams Leave Kalamboli Commuters Frustrated

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Heavy vehicles and ongoing infrastructure work slow traffic at one of Navi Mumbai’s busiest junctions.

The Jam

Traffic congestion at Kalamboli Junction has become a growing concern for motorists, with long queues and slow-moving traffic affecting commuters travelling through the area.

Kalamboli is an important connecting point for vehicles heading towards Mumbai, Pune, Panvel, JNPT and Uran. The junction handles a heavy mix of cars, buses and container trucks throughout the day. The increasing traffic volume has frequently resulted in delays, particularly during peak hours.

Ongoing infrastructure work around the junction has added to commuters’ difficulties. Diversions and changes in traffic movement have narrowed available routes in some stretches, making the daily journey more time-consuming.

For many commuters, a trip that normally takes a short time can now stretch considerably longer. Truck movement and vehicles merging from different directions further add to the pressure at the junction. Authorities are working on a major improvement project aimed at easing the situation. The plan includes flyovers, an underpass and a multi-level interchange that is expected to improve traffic movement and reduce dependence on signals once completed.

In the meantime, commuters are hoping for better traffic management and clearer diversions to reduce the daily inconvenience. With Kalamboli continuing to handle increasing traffic from several major highways, the junction remains a key focus for efforts to improve connectivity and ease congestion in Navi Mumbai.

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