The Supreme Court has upheld the bail which was granted to former National Stock Exchange (NSE) Chief Executive Officer Chitra Ramkrishna in relation with the NSE scam case which currently being probed by the Central Bureau of Investigation (CBI).
A Bench consisting prominent judges bench of JusticeAjay Rastogi and Justice Bela M Trivedi refused to interfered with a Delhi High Court ruling to grant bail to the accused Ramakrishna in the case.
The bench after hearingthe counsel,found no reason to interfere with the bail order.
The bench clarified that they have made observations only for granting default bail which shall have no affect at all to the merits of the trial. It also held that all questions of law are left open.
The Additional Solicitor General Sanjay Kain who appeared for the CBI before the court.
The matter started when Ramkrishna was found involved in financial misdeed, which came fore from the February 11 order of the Securities and Exchange Board of India (SEBI) which found so.
The former NSE CEO was allegedly involved in financial misdeeds relating to fixation and frequent revision of compensation of another former NSE employee Anand Subramanian in a disproportionate manner.
She had said she did this on suggestion of some ‘Siddha Purush,’ who the agencies said, was none but Anand Subramanian.
As per the reports, Anand whose work comprised of taking care of interest of investors, indulged in criminal conspiracy with other co-accused, which turned out advantageous to various trading members/brokers and thus, committed a serious economic offence.
Ramkrishna was in touch through e-mails with the Himalayan Yogi who the Central Bureau of Investigation (CBI) later claimed to be none other than Subramanian.
The CEO Ramkrishna throughout the time has argued that she had no connection with brokers, and as per the investigation none of them had been arrested.