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.
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Residents Urge Ganesh Naik to Relocate Amazon Data Centre Away from Neighborhood
Local citizens express deep concerns over constant noise, extreme heat generation, and safety risks near homes.
The Urge
Growing anxieties over industrial development encroaching on residential peace have prompted local citizens to seek political intervention against a major technology infrastructure project. Residents have formally approached senior leader and MLA Ganesh Naik, urging him to push for the relocation of a proposed Amazon data centre away from their living spaces.
The planned facility has triggered strong pushback from neighboring families who fear the severe, round-the-clock environmental toll of high-density computing infrastructure. Among their primary concerns are the massive cooling systems and heavy-duty backup generators required to run the facility, which residents warn will produce relentless noise pollution and significantly raise local temperatures.
Additionally, community members raised red flags regarding safety risks, the immense drain on local electricity grids, and the overall decline in neighborhood quality of life. Pushing for a sensible resolution, the residents requested Naik to take up the matter with municipal and state authorities to shift the data centre into a designated industrial zone or a non-residential sector.
“Living right next to an industrial-scale facility jeopardizes our peace, safety, and daily living conditions,” expressed a concerned resident, emphasizing that heavy tech infrastructure belongs far from residential quarters.
As public pressure mounts, residents hope local leadership will successfully intervene to protect their community’s environment and residential character.
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Shiv Sena Opposes Turbhe Waste-to-Energy Project Over Corruption Allegations
Party leaders demand cancellation of the Rs 2,200 crore tender, alleging contractor irregularities and health risks to local residents.
The Project
A major political controversy has erupted around the Navi Mumbai Municipal Corporation (NMMC) following strong opposition from Shiv Sena leaders against the proposed Waste-to-Energy project at the Turbhe dumping ground. The project, designed to generate compressed biogas (CBG) from city garbage, has run into severe pushback over claims of massive financial irregularities.
Speaking out on behalf of local communities, Shiv Sena corporator Aniket Mhatre accused municipal officials and political figures of orchestrating a Rs 2,200 crore scam through flawed tender procedures. Party members claim that the selected contractor fails basic eligibility criteria, suggesting that rules were intentionally bypassed during the bidding phase to favor specific interests.
Beyond financial concerns, local leaders highlighted the growing health hazards faced by residents living near the Turbhe site. Pushing for long-term relief, Shiv Sena has urged the Environment Minister to intervene, initiate a formal technical probe into the tender process, and penalize any non-compliant contractors involved.
“We cannot allow public health and civic funds to be compromised,” stated Mhatre, insisting that the entire contract be scrapped and the dumping facility relocated far away from residential zones. With Shiv Sena demanding immediate cancellation of the project, mounting political pressure could force NMMC to re-evaluate its plans for the Turbhe facility.
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MNS Threatens Protests Over Unpaid Allowances for Navi Mumbai Civic Workers
Party sets deadline for NMMC to clear long-pending dues, warning of citywide agitations if demands remain ignored.
The Protest
A growing dispute over unpaid allowances has pushed municipal sanitation staff, contract workers, and civic employees to the brink of a major showdown with the NMMC. Stepping in on behalf of the struggling workforce, the Maharashtra Navnirman Sena (MNS) has issued a stern ultimatum to civic authorities: clear the financial backlogs immediately or face aggressive street protests.
For months, essential municipal workers many of whom form the backbone of the city’s daily sanitation and administrative operations have been waiting on crucial arrears. These include pending festival bonuses, hazard allowances, and overtime payments that remain tangled in administrative red tape. Labor leaders allege that despite repeated appeals, municipal leadership and third-party contractors continue to push back payouts, leaving hundreds of low-income families in distress.
Taking up the mantle through its labor union wing, the Maharashtra Navnirman Kamgar Sena, MNS representatives formally handed a memorandum of demands to the NMMC Commissioner. Party leaders warned that patience among the workforce has worn thin.
“These workers keep the city running every single day, yet they have to fight for basic wages and earned allowances,” said a party spokesperson. “If NMMC administration does not settle these dues without further delay, we will take to the streets and shut down operations at headquarters.”
While NMMC officials maintain that administrative procedures are underway to resolve the billing discrepancies, the threat of an imminent agitation leaves Navi Mumbai facing potential disruption to its essential public services.
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