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NSE Co-location Scam: Anand Subramanian Sentenced to 14-Day Judicial Custody

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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.

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FDA Suspends Three Dairy Units in Taloja Over Suspected Milk Adulteration

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Authorities destroy 1,494 litres of suspected adulterated milk and register a criminal case against six people following inspections in Panvel.

The Adulteration

The Food and Drug Administration (FDA) has suspended the licences of three dairy units in the Taloja industrial area of Panvel following inspections that reportedly revealed violations of food safety and hygiene standards. The action was taken against Mateshwari Foods, Sawariya Milk and Milk Products, and Royal Foods, located in Balaji Industrial Park, Taloja.

During the inspection, FDA officials destroyed 1,494 litres of suspected adulterated milk and seized curd for further examination. Samples have been sent for laboratory testing, and further action will depend on the test results. A criminal case has also been registered against six people at Taloja police station. They are accused of involvement in the production, storage and sale of adulterated food products, raising concerns about the safety of dairy products supplied to consumers.

The FDA’s action highlights the importance of maintaining proper hygiene and following food safety regulations in dairy processing units. Authorities are investigating the matter, and further steps may be taken based on the findings. The incident has also raised concerns about the quality of milk and milk products available in the market, underlining the need for regular inspections to protect public health.

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Navi Mumbai AQI Remains Above 100, Activists Demand Stronger Pollution Control

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Mahape records the city’s highest AQI at 141, while environmentalists call for stricter action and improved pollution standards.

The Demand

Air pollution continues to be a concern in Navi Mumbai, with the Air Quality Index (AQI) remaining above 100 since October 16. According to the Central Pollution Control Board’s (CPCB) National Air Quality Data Management System, the city recorded an AQI of 121 at 2.05 pm on October 19. Mahape reported the highest AQI at 141, while the monitoring station in Sector 2E, Kalamboli, recorded the lowest at 103. Other locations also registered elevated readings, including CBD Belapur (133), Koparipada-Vashi (131), Tondare-Taloja (125), Sanpada (115) and Nerul (109). PM10 and PM2.5 were among the prominent pollutants recorded in CBD Belapur.

Environmental activist BN Kumar criticised the administration’s response, stating that rising pollution levels reflected inadequate regulation of construction activities, vehicle emissions and industrial pollution. He urged residents to demand accountability and concrete measures to protect public health and the environment. Activists have also questioned the difference between India’s AQI classification and that of the United States. Under India’s system, readings between 101 and 200 are classified as ‘Moderately Polluted’. In the US, readings of 101–150 fall under ‘Unhealthy for Sensitive Groups’.

Jyoti Nadkarni, a Kharghar-based resident and environmental activist, called for India to upgrade its pollution standards and give environmental protection greater priority. The elevated AQI levels raise concerns for children, senior citizens and people with respiratory or cardiovascular conditions, who are particularly vulnerable to the effects of air pollution.

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Giant Digital Hoardings on Palm Beach Road Raise Tender Violation Concerns

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Activists question the legality of installations, citing possible tender violations, road safety risks and lack of civic permissions.

The Hoardings

Giant digital hoardings installed at prominent junctions along Palm Beach Road have sparked controversy over alleged tender violations, road safety and civic accountability. Environmental activists and advertising agencies have questioned whether the installations comply with the Navi Mumbai Municipal Corporation’s (NMMC) advertising contract.

The five-year contract awarded to M/s Ronak Advertising Agency reportedly covers 36 existing hoardings at 30 public and community toilet locations across the city. The agency is said to pay the civic body approximately Rs 2.25 crore annually. However, allegations have emerged that large digital displays have been installed at prominent Palm Beach Road junctions beyond the locations specified in the contract. Activists have demanded an investigation into the permissions granted and compliance with the tender conditions. Local MLA Manda Mhatre had earlier objected to the installation of large hoardings near traffic signals and reportedly sought cancellation of the contract.

Activists have also warned that bright, illuminated displays featuring changing advertisements could distract motorists at busy junctions and increase road safety risks. Questions have additionally been raised about structural safety inspections and compliance with applicable regulations. Environmental activist Bhaskar Machhare said a delegation of activists and advertising contractors had met the municipal commissioner to raise concerns over the allegedly unauthorised installations.

According to Machhare, the commissioner clarified that he had not granted permission for the hoardings and directed the concerned officials to take immediate action. The controversy has intensified demands for a thorough inquiry into the approval process and the role of officials responsible for regulating outdoor advertisements. The civic body’s response and any action against the disputed structures are now being closely watched.

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