Notice issued on Chitra Ramakrishna's bail plea.

(file photo)

The Delhi High Court on Friday sought response of the Central Bureau of Investigation (CBI) on a bail plea filed by Chitra Ramakrishna, former managing director and chief executive officer of the National Stock Exchange (NSE), in the co-location case.

Justice Sudhir Kumar Jain issued notice on the bail plea and listed the matter for further hearing on May 31.

On May 12, the trial court had rejected the bail plea of ​​the former NSE chief, saying there was no ground to grant bail as of now.

The CBI is probing the alleged improper dissemination of information from the computer servers of NSE to a large number of stockbrokers.

An FIR was registered in May 2018 amid revelations related to irregularities in the country's largest stock exchange.

Ramakrishna was arrested by the CBI on March 6, a day after the court rejected his anticipatory bail plea.

The trial court had sent him to judicial custody on March 14, after the end of his seven-day CBI custody.

While denying him bail, the trial court cited Nobel Laureate Bob Dylan as well as the Frankenstein Monster (fictional character from the famous novel 'Frankenstein').

The court had said that the entire financial world, including foreign institutional investors (FIIs), is waiting for the NSE to strengthen itself… so that they can come to India for investment in large numbers, which are currently excellent for investment. is the location.

Special Judge Sanjeev Agarwal had said, "It appears that accused Ramkrishna was prima facie running the affairs of NSE as a 'private club'.

As singer, writer and Nobel laureate Bob Dylan once said, "Money doesn't talk, it wears." He said, "It's a song from the 1964 music album It's Alright, I'm Only Bleeding." , which means that money not only has an effect, but it also has an adverse effect on people.

Earlier, the Securities and Exchange Board of India (SEBI) had fined two other officials of the NSE, including Ramakrishna and Ravi Narayan, for lapses in recruitment at the senior level.

Narayan was the Managing Director and Chief Executive Officer of NSE from 1994 to March 2013, while Ramakrishna held the position of Managing Director and Chief Executive Officer of NSE from April 2013 to December 2016.

Video: Former NSE CEO Chitra Ramakrishna's troubles increase, CBI-IT team is interrogating