The Delhi High Court grants bail to former NSE CEO Chitra Ramkrishna in a money laundering case

Delhi High Court It is alleged that the phones of NSE employees were illegally tapped; former Mumbai Police Chief Sanjay Pandey is also an accused in the case.

The Delhi High Court on Thursday granted bail to Chitra Ramkrishna, the former Chief Executive Officer of the National Stock Exchange (NSE), in a money laundering case filed by the Enforcement Directorate (ED) in connection with the NSE phone-tapping case.

On November 15, Justice Jasmeet Singh granted Ramkrishna bail after reserving orders in the case.In the case, it is claimed that NSE employees’ phones were illegally tapped.The Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) have accused MTNL of illegally tapping phones in violation of the Telegraph Act. It was claimed that 4.54 crore was paid for this purpose, which became proceeds of crime.

Read Also: RBI Governor Shaktikanta Das was speaking to reporters following the announcement of the RBI’s monetary policy, in which the repo rate was raised by 25 basis points to 6.50 percent

Sanjay Pandey, the former Mumbai Police Commissioner, was previously granted bail in the same case.Ramkrishna argued in her bail application that she had no connection with brokers and that no one had been arrested as a result of the investigation.

Senior Advocate Rebecca John represented Ramkrishna in the case, stating that the allegations against the applicant do not fall within the framework of the scheduled offences, and thus the rigours of the Prevention of Money Laundering Act (PMLA) will not apply.

She also stated that because the petitioner is a woman, she falls under the proviso to Section 45(1) of the PMLA. Ramkrishna is also facing CBI and ED charges for allegedly being involved in financial misdeeds involving the fixation and frequent revision of compensation of another former NSE employee, Anand Subramanian, in an egregious manner. She is accused of conspiring with someone she claimed was a “Siddha Purusha” to do this.

According to the investigating agencies, this “Siddha Purusha” is Subramanian himself.

The other charge levelled against Ramkrishna was that she communicated with a Himalayan Yogi, later identified as Subramanian by the Central Bureau of Investigation (CBI).