In NSE Scam Case, Delhi HC Rejects Ex-CEO Chitra Ramkrishna's Plea, Challenging Definitions Of 'Public Servant', 'Public Service'
The High Court also rejected her plea, challenging the order granting sanction to prosecute Ramkrishna in the alleged NSE co-location scam case.
Published : July 9, 2026 at 1:34 PM IST
New Delhi: The Delhi High Court has dismissed a petition filed by former National Stock Exchange (NSE) CEO Chitra Ramkrishna, challenging the definitions of "public servant" and "public service" under the Prevention of Corruption Act. A division bench of justices Navin Chawla and Ravinder Dudeja observed that the NSE performs a public service function, and Ramkrishna, as the former managing director (MD) and chief executive officer (CEO) of the NSE, cannot dissociate herself from the actions taken on behalf of the body.
The High Court also rejected the plea challenging the order granting sanction to prosecute Ramkrishna, who is an accused in the alleged NSE co-location scam case, in which, she is accused of frequently upgrading the designation and compensation of former NSE employee, Anand Subramanian.
It is worth noting that the CBI arrested Chitra Ramkrishna on March 6, 2022. In its chargesheet, the CBI stated that Chitra had abused her position while taking critical decisions, including the appointment of Subramanian. The arrest followed allegations made by stock exchange regulator SEBI on February 11, 2022 against Ramkrishna and others, accusing them of irregularities regarding the appointment of Subramanian. During questioning, Ramkrishna had claimed that a mysterious 'yogi' used to assist her in decision-making via email, who, the CBI later alleged, was none other than Subramanian.
In this matter, the Enforcement Directorate (ED) registered a money laundering case against former Mumbai Police Commissioner Sanjay Pandey and Ravi Narain. During its investigation, the CBI recovered bill receipts, recording samples, original recording tapes, servers, and two laptops from the premises of iSec Services Private Limited, a firm linked to Sanjay Pandey. Sanjay Pandey is accused of tapping MTNL phone lines to assist Chitra in exchange for a payment of Rs 4.54 crore.
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