Delhi HC notice to CBI on bail plea of Anand Subramanian in NSE Co-location scam case

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The Delhi High Court on Tuesday issued notice to the Central Bureau of Investigation (CBI) on the bail plea of Anand Subramanian, former Group Operating Officer (GOO) and Chief Strategic Advisor (CSA) of the National Stock Exchange.

A bench of Justice Sudhir Kumar Jain issued notice to CBI in the NSE Co-location scam and listed the matter for further hearing on July 7.

On the other hand, the bench adjourned the hearing on bail of Chitra Ramakrishnan as the Special Public prosecutor Anil Grover was not available and the status report has not been filed. The matter will be heard on June 3. The bench had earlier issued notice on the petition.

Special CBI at Rouse Avenue Court had discussed the bail pleas of Ramakrishnan and Subramanian earlier this month.

Subramanian has now moved a bail plea before the Delhi HC through Advocate Alok Tripathi. Senior Advocate Vikas Pahwa argued for the petitioner.

The case against Subramanian is connected with a February 11 order of the Securities and Exchange Board of India (SEBI) that noted Ramakrishna was allegedly involved in financial misdeeds relating to fixation and frequent revision of Subramanian's compensation in a disproportionate manner, in cahoots with whom she claimed to be a "Siddha Purusha".

CBI has alleged that Subramanian while performing a public duty to protect the interest of common investors, indulged in criminal conspiracy with other co-accuses.

Subramaniam's counsels before the lower court had argued before that no criminality could be attributed to him, as he played no role in the daily affairs of NSE and was only an employee and not the decision-maker.

The counsel had submitted that he was given a clean chit by SEBI had given him a clean chit.

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