India
NSE Co-location Scam: Anand Subramanian Sentenced to 14-Day Judicial Custody
On Wednesday, the CBI court in Delhi sentenced Anand Subramanian, the former Group Operating Officer and advisor to the previous MD of the National Stock Exchange (NSE), to 14 days in judicial prison in the NSE Co-location case, according to news agency ANI.
The CBI further informed the court that a special investigation team (SIT) consisting of nearly 30 officers, including senior officials, is examining the Indian stock exchange’s co-location fraud. Subramanian’s custody had previously been extended by a CBI judge until March 9.
Chitra Subramanian was brought before the court on Monday after being arrested the day before on Sunday. Chitra was faced with Anand Subramanian on March 6, before her arrest, but she denied recognizing him, according to the CBI, which is requesting her remand. Even though Chitra and Anand have exchanged at least 2,500 e-mails, she continues to claim that she is unfamiliar with him.
Anand was indeed a close colleague of Ramkrishna, the ex-CEO of the NSE, who was detained by the CBI on Sunday after her anticipatory release was denied by a special CBI court. According to sources, she was apprehended in Delhi and transferred to the CBI headquarters for a medical check-up. Later today, the former NSE boss is expected to appear in court.
From April 1, 2013, Subramanian served as NSE’s Chief Strategic Advisor, and from April 1, 2015, to October 21, 2016, he was re-designated as the Group Operating Officer (GOO) and Ramkrishna’s advisor.
Following “new findings” in a SEBI report that referred to a mystery Himalayan yogi guiding Ramkrishna’s conduct, the CBI expanded its investigation into the NSE colocation scandal on February 26.
According to CBI Counsel on Extended Judicial Custody Ramkrishna, Subramanian must also be confronted for the CBI counsel to grasp the depth and magnitude of the conspiracy.
Ramkrishna hired Subramanian as a consultant at the NSE without “following necessary protocol” or coercing the bourse’s HR department, according to the CBI. He was also given significant managerial authority, similar to that of the previous CEO and MD, according to the report.
The CBI questioned NSE officials last month, including former managing director Ravi Narain, in addition to Ramkrishna and Subramanian.
In a recent ruling, Sebi fined Ramkrishna and Ravi Narain, the NSE’s previous MDs and CEOs, as well as others, for multiple infractions in a case involving the hiring of Anand Subramanian as GOO and advisor to then-MD Ramkrishna.
The ‘Himalayan Yogi’ Perspective
In the appointment of Subramanian, Ramkrishna was influenced by a “yoga” living in the Himalayan mountains, according to the regulator’s order. She was also accused of exchanging confidential information with the yogi, including the bourse’s financial and business objectives, dividend scenario, and financial outcomes, as well as consulting the yogi on the exchange’s staff performance reviews.
As per Ramkrishna, the “yogi” was a “spiritual power that could present itself anywhere it liked, had no physical or locational coordinates, and mostly inhabited in the Himalayan range.”
Furthermore, the yogi and Ramkrishna exchanged e-mails indicating that the NSE was considering a self-listing, according to the ruling.
Latest News
Poor Road Conditions Raise Concerns for Konkan-Bound Ganeshotsav Travellers
Potholes and traffic congestion on the Uran route could make the festival journey difficult for thousands of devotees.
The Roads
With Ganeshotsav approaching, thousands of devotees from Mumbai and Navi Mumbai are preparing to travel to their hometowns in Konkan. However, poor road conditions along the Uran route have raised concerns about their journey.
Several stretches, including parts of the Mumbai–Goa National Highway and the Khopate Bridge, are reportedly affected by potholes. The Gavanphata–Chirner–Kharpada route is also in need of repairs, raising fears of slower traffic and longer travel times during the busy festival period. Traffic congestion has already been reported on the Chirner–Gavanphata–Dighode stretch. With a significant increase in vehicles expected during Ganeshotsav, residents fear that the existing problems could become even worse.
Roads maintained by CIDCO and the Public Works Department (PWD) have also come under scrutiny. The Khopate–Koproli road, in particular, has several potholes, while unauthorised parking in some areas is further adding to traffic difficulties. For many families travelling to Konkan for Ganeshotsav, the journey is an important part of the festival. Residents have therefore urged authorities to repair the damaged roads before the rush begins.
Meanwhile, Uran traffic police are preparing measures to manage the expected increase in traffic and minimise congestion during the festival.
Latest News
High Court Questions NMMC Over Illegal Constructions in Navi Mumbai
Court seeks a clear plan to prevent new unauthorised structures as civic authorities step up action.
The Constructions
The Bombay High Court has sought answers from the Navi Mumbai Municipal Corporation (NMMC) over the growing issue of illegal constructions in the city. The court has asked the civic body what concrete steps it plans to take over the next three months to prevent new unauthorised structures from coming up.
According to claims made before the court, Navi Mumbai has around 4,000 illegal constructions. Since the court’s June 16, 2026 order, NMMC has taken action against 88 structures, including 43 in Airoli. Officials said another 25 structures had been acted against by September 7.
However, NMMC told the court that its demolition drive could face challenges in the coming months due to staff being engaged in Special Intensive Revision (SIR) work and preparations for upcoming festivals. During the hearing, petitioners also alleged that some illegal structures in Airoli were being spared because of political pressure. CIDCO, meanwhile, clarified that the areas in question fall under NMMC’s jurisdiction.
The court has scheduled the next hearing after three weeks. For residents concerned about unauthorised construction in their neighbourhoods, the proceedings could be significant, as the civic body is now expected to show how it intends to prevent fresh violations rather than simply act after structures are built.
Latest News
NMMC Recruitment Exam Scorecard to Be Released on September 11
Candidates who appeared for the civic body’s recruitment exam can check their scores from September 11 after a long wait.
The Exam
Candidates waiting for the results of the Navi Mumbai Municipal Corporation (NMMC) recruitment exam finally have some good news. The civic body is set to release the exam scorecards on September 11, 2026, bringing an end to a long wait for thousands of applicants.
The recruitment drive was announced for 668 posts across 30 categories. A total of around 84,774 candidates applied, while 68,149 candidates appeared for the online examination held in July 2025. The release of the results had been delayed due to a legal dispute involving contractual employees working with NMMC. The employees had approached the Bombay High Court seeking protection for their jobs, following which the court had directed the civic body to hold back the examination scores.
The situation changed after the court allowed NMMC to proceed with the recruitment process while ensuring that the existing contractual employees would not lose their current service. Accordingly, NMMC will now publish the scorecards for all 30 categories on its official website on September 11.
There are currently around 477 contractual employees in the civic body. Their positions will be protected, while appointments to the remaining vacancies will proceed according to the recruitment process and the court’s final decision. For candidates who have been waiting for more than a year, the scorecard release will be an important step towards knowing their chances of securing a job with NMMC.
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