What Is The NSE Co-Location Scam All About? Read Here.
NDTV
Co-location facilities are dedicated spaces attached with facilities like power supply and bandwidth and can be leased by a third party for trading
With the arrest of former National stock exchange managing director and CEO Chitra Ramkrishna in a co-location scam case on March 6 by the Central Bureau of Investigation (CBI), the focus will now shift on how the whole episode was planned, as the central agency interrogates her. Ms Ramkrishna has been sent to a seven-day CBI custody for questioning.
Ms Ramkrishna, who accepted that she had been guided by a “Himalayan Yogi” while taking key decisions during her tenure as the head of the country's top stock market, was arrested after an almost four year probe by CBI against a Delhi-based stockbroker.
The central agency's probe received a shot in the arm after market regulator Securities and Exchange Board of India (SEBI) released a report indicating alleged misuse of power by the top management of NSE in the matter.
According to the SEBI report, Ms Ramkrishna, who was appointed as the managing director and CEO of NSE in April 2013, sought the guidance of the mysterious “Himalayan Yogi” in all personal and professional matters for around 20 years.
