A day after her anticipatory bail application was rejected by the court, the CBI on Sunday arrested Chitra Ramkrishna, the former MD and CEO of National Stock Exchange, in the co-location scam.
Over five years after she was ousted, Ramkrishna has been accused of abusing her position to facilitate exploitation of the exchange’s server architecture to provide preferential access to a stock broker. Earlier, the CBI had arrested Anand Subramanian, the former group operating officer of the NSE in the case, whose appointment at Ramkrishna’s behest was done in violation of norms. She has been indicted by Sebi along with Subramanian, her former boss Ravi Narain and some other former colleagues.