Delhi HC allows CBI to prosecute Chitra Ramkrishna over co-location
The Delhi High Court just gave the green light for the Central Bureau of Investigation to prosecute Chitra Ramkrishna, former boss of the National Stock Exchange (NSE), over the infamous co-location scam.
The court said NSE's top executives count as public servants under anti-corruption laws, so Ramkrishna's challenge against her prosecution didn't hold up: judges said they did not find any merit in her petition.
Chitra Ramkrishna accused of co-location favoritism
Ramkrishna is accused of letting certain brokers get unfair advantages by giving them faster access to trading data through NSE's co-location facility.
There are also claims she changed a colleague's job perks based on advice from a mysterious "Himalayan Yogi."
The Securities and Exchange Board of India (SEBI) flagged the compensation irregularities in a February 11 order, and now with the court's ruling, things are set to move forward in this high-profile financial scandal.