Co-location scam case: Chitra Ramakrishna, ex-MD of NSE, sent to seven days of CBI custody

New Delhi, Mar 07: A Delhi court on Monday granted the Central Bureau of Investigation seven-day custodial interrogation of former managing director and chief executive officer of National Stock Exchange (NSE) Chitra Ramkrishna in co-location scam case.

Special Judge Sanjeev Aggarwal passed the order after hearing arguments from CBI and the counsel appearing for accused. The probe agency had sought her 14-day custodial interrogation.

The CBI arrested the accused on Sunday after her anticipatory bail application was dismissed by the court on Saturday. In the co-location facility offered by the NSE, brokers could place their servers within the stock exchange premises giving them faster access to the markets.

It is alleged that some brokers in connivance with insiders abused the algorithm and the co-location facility to make windfall profits.