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MUMBAI: A special court on Monday granted the Central Bureau of Investigation (CBI) seven days' custody of former managing director and chief executive officer of National Stock Exchange (NSE) Chitra Ramkrishna, who was arrested the previous night for her suspected role in the co-location scam at the exchange.
The CBI had sought a 14-day custody, saying that Ramkrishna was “very evasive" during the investigation.
The court asked CBI about the others involved in the NSE co-location case, to which the latter said that the probe was on and not everyone can be arrested at the same time.
The court further asked, “Why is it that in four years, only two arrests have been made so far?" The CBI counsel replied that there have been nearly 2,500 incriminating emails and hence, Ramkrishna’s custodial interrogation regarding the same was necessary. It added that more evidence will be gathered as and when the case progresses.
The case will be heard next on 14 March.
The CBI late on Sunday arrested Ramkrishna for her her role in the so-called co-location case, which involved certain brokers who used NSE’s co-location services between 2010 and 2014 to get preferential access to NSE’s platform.
The arrest came after her anticipatory bail plea was rejected by the CBI special court on Saturday.
The arrest follows a February order by the Securities and Exchange Board of India that said Ramkrishna was responsible for leaking confidential information and allegedly giving some brokers preferential access through a co-location faility.
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