NSE phone tapping | Delhi High Court grants bail to Chitra Ramkrishna in money-laundering case

The former NSE managing director, who was earlier arrested by the CBI in the alleged NSE co-location scam, was arrested in the money-laundering case by the Enforcement Directorate on July 14 last year.

The Delhi High Court on February 9 granted bail to Chitra Ramkrishna in the money-laundering case related to alleged illegal phone tapping and snooping of the National Stock Exchange (NSE) employees. "The application is allowed. The applicant is granted bail," said Justice Jasmeet Singh.

The former NSE managing director, who was earlier arrested by the CBI in the alleged NSE co-location scam, was arrested in the present case by the Enforcement Directorate on July 14 last year.

Chitra Ramkrishna was granted bail in the CBI case by the High Court in September last year. The Enforcement Directorate (ED) had opposed her bail plea in the present case on grounds that she was the “mastermind” behind the conspiracy.

The phone tapping case, according to the ED, pertains to a period from 2009 to 2017 when former NSE CEO Ravi Narain, Ramkrishna, Executive Vice-President Ravi Varanasi, and Head (Premises) Mahesh Haldipur and others conspired to cheat NSE and its employees and for the purpose, engaged iSEC Services Private Limted for illegal interception of phone calls of employees of the NSE in the guise of doing periodic study of cyber vulnerabilities of the NSE.

Seeking bail, Chitra Ramkrishna had argued that no scheduled offence was made out against her and the allegations also did not fall within the rigours of the Prevention of Money Laundering Act.

She was appointed as Joint MD NSE in 2009 and remained in the position till March 31, 2013. She got elevated as MD and CEO on April 1, 2013. Her tenure at NSE ended in December 2016.