NEW DELHI - The Delhi High Court has given Chitra Ramkrishna, former CEO of the National Stock Exchange (NSE), four weeks to present her response to the Central Bureau of Investigation's (CBI) challenge against her bail. This development comes in light of allegations involving unauthorized surveillance of NSE employees' phone conversations by iSec Private Limited.
Justice Saurabh Banerjee scheduled the next hearing for April 3, following the conditions set by her December 22 bail order. These conditions require Ramkrishna to attend all court hearings, actively cooperate with the investigation, avoid any communication with witnesses or tampering with evidence, and seek court approval for any international travel plans.
Ramkrishna's legal challenges have been ongoing. Earlier this month, she contested the application of certain sections of the Prevention of Corruption Act related to 'public duty' and 'public servant'. Justices Hima Kohli and Subramonium Prasad requested feedback from the government and CBI by December 19 regarding this matter. Additionally, questions have been raised about the legitimacy of the prosecution sanction by advocate Hariharan, which could affect the authority of the special court overseeing the case.
In a related financial misconduct case, Ramkrishna obtained bail on February 9 concerning charges of money laundering tied to the NSE co-location scam. The case has also seen arguments referencing a Supreme Court precedent that government support can define public servants, amidst allegations against Ramkrishna of manipulating employee designations and compensation.
As the legal proceedings continue, Ramkrishna must navigate both the complexities of her defense and compliance with stringent bail conditions. The outcome of these hearings could have significant implications for corporate governance and regulatory oversight in India's financial markets.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.