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In the NSE case the CBI is expected to detain Chitra Ramakrishna

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Sources tell that Chitra Ramakrishna, the former chief of the National Stock Exchange (NSE), is likely to be detained by the Central Bureau of Investigation (CBI) after a Delhi court denied her anticipatory bail appeal on Saturday.

Chitra Ramakrishna had filed a court appeal seeking protection from the CBI’s detention. After the agency objected, her application was denied.

Officials may arrest her shortly, according to sources, but if she goes to the high court, the CBI will have to wait for an order.

Chitra Ramakrishna, NSE’s former Managing Director, and Chief Executive Officer are being investigated for allegedly sharing private NSE information with a “yogi who resides in the Himalayas.”

CBI officers had previously questioned her in Mumbai. Anand Subramaniam, her suspected close friend, and former Group Operating Officer of NSE was previously detained by the CBI.

Officials claim that the suspected discriminatory activities in NSE took place between 2010 and 2015. Ravi Narain was the NSE’s Managing Director and Chief Executive Officer until March 2013. At the time, Chitra Ramakrishna was the company’s, Deputy CEO. She succeeded Ravi Narain as CEO of the NSE, which she led until December 2016.

According to sources, the CBI took action in response to recent SEBI findings (Securities and Exchanges Board of India).

“As during inquiry into the matter of co-location facilities at NSE, SEBI came across all these documentary evidence, which illustrated that Notice No. 1 [Chitra Ramakrishna], former MD & CEO of NSE, had disclosed certain internal confidential information of NSE, viz., organizational structure, dividend scenario, financial results, human resources policy, and related issues, response to the regulator, etc., with an unfamiliar persuasion,” the SEBI said in its order on February 11.

According to sources, the CBI has new evidence in the co-location case against Chitra Ramakrishna.

In 2018, the CBI filed an FIR in a co-location case on the court’s directives. The CBI case involves a stockbroker who allegedly corrupted the NSE’s system with the cooperation of then-top officials to acquire access to the markets before anyone else when they opened.

Sanjay Gupta (promoter of OPG Security Pvt Ltd), Aman Kokrady, his brother-in-law, and data cruncher and researcher Ajay Shah, as well as anonymous NSE and SEBI employees, were listed as suspects in the investigation by the CBI.

The broker’s computer is located in the same area as the stock exchange’s server, which is known as co-location.

In comparison to other brokers, this gives brokers a time advantage. The broker whose computer is housed in the NSE’s server room has first access to market data, allowing them to profit handsomely from stock trading.

In the CBI investigation, broker Sanjay Gupta reportedly had access to the NSE’s co-location facility, allowing his firm, OPG Security Pvt Ltd, to acquire early access to data and earn massive financial profits.

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Navi Mumbai Police Seize Drugs Worth ₹1.10 Crore, Arrest Three in Pre-Dawn Raid

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In a major crackdown on drug trafficking and illegal immigration, the Navi Mumbai Police conducted a pre-dawn raid on Thursday, seizing narcotics worth Rs1.10 crore and arresting three African nationals.

Acting on directives from Commissioner of Police Milind Bharambe, the Anti-Narcotics Cell and Crime Branch launched a coordinated operation at 4:00 AM. The raid, led by Assistant Commissioner Bhausaheb Dhole and Inspector Sandeep Nigde, involved 125 police officers targeting 11 locations across the Commissionerate.

Authorities confiscated 118.48 grams of high-quality cocaine worth Rs59.24 lakh, 100.84 grams of MD powder valued at Rs50.42 lakh, and Rs43,500 in cash. A total of 35 African nationals were screened, and three individuals found in possession of narcotics were arrested under the NDPS Act at Ulwe Police Station.

Additionally, 11 individuals with expired visas and passports were served Leave India Notices, as part of the police’s intensified efforts against illegal immigration.

The Navi Mumbai Police have vowed to continue their crackdown on drug trafficking and unlawful activities, warning of strict action against offenders.

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On February 15, CIDCO Will Conduct A Computerized Lottery Draw For The “My Preferred CIDCO Home” Program

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CIDCO to hold computerised lottery draw for “My Preferred CIDCO Home” scheme on February 15.

The Lottery

The City and Industrial Development Corporation (CIDCO) will hold the computerised lottery draw for its highly anticipated “My Preferred CIDCO Home” housing scheme on Saturday, February 15, 2025, at 11:00 AM. The event will take place at Raigad Estate, Phase I, Sector-28, Taloja Panchanand, Panvel, and will be streamed live on the CIDCO website for applicants to watch in real time.

Launched on October 12, 2024, the scheme aims to provide affordable housing under the Pradhan Mantri Awas Yojana (PMAY) for the Economically Weaker Section (EWS) and Low-Income Group (LIG) categories. A total of 26,000 tenements have been made available across Navi Mumbai in key locations such as Vashi, Bamandongri, Kharkopar, Kharghar, Mansarovar, Khandeshwar, Panvel, and Kalamboli.

A key feature of this scheme was that applicants could select up to 15 preferred tenements, making it highly flexible and attracting overwhelming participation.

The live webcast of the draw can be accessed on cidcohomes.com, ensuring transparency in the process. After the draw, the list of successful applicants will be published on lottery.cidcoindia.com.

With this initiative, CIDCO continues its mission to provide affordable housing and fulfill the dream of homeownership for thousands in Navi Mumbai.

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Construction Projects Must Utilize Tertiary Processed Recycled Water, Under NMMC Regulations

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NMMC mandates use of tertiary treated recycled water for construction projects.

The Regulation

In a major step towards water conservation, the Navi Mumbai Municipal Corporation (NMMC) has made it mandatory for developers to use tertiary treated recycled water in all construction projects approved by the Town Planning Department.

The initiative aims to curb the rising demand for potable water as the city grapples with declining rainfall and increasing concerns over water scarcity. With several redevelopment projects underway, the consumption of drinking water for construction has surged, putting additional strain on resources.

To address this, NMMC is leveraging its advanced sewage treatment infrastructure. The city currently operates seven sewage treatment plants using Sequential Batch Reactor (SBR) technology. Additionally, tertiary treatment plants at Koparkhairane and Airoli utilize Ultra Filtration and Ultraviolet-Based Technology to further purify secondary treated water. This recycled water is already being supplied to industrial establishments in the Maharashtra Industrial Development Corporation (MIDC) area for non-potable use.

By enforcing the use of recycled water in construction, NMMC aims to reduce reliance on drinking water and promote sustainability. This regulation is expected to play a crucial role in preserving Navi Mumbai’s water resources for the future while ensuring responsible urban development.

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