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The Delhi High Court on Wednesday dismissed a plea filed by Central Bureau of Investigation challenging bail granted to former managing director and chief executive officer of the National Stock Exchange Chitra Ramkrishna in a case related to alleged illegal phone tapping of NSE employees.

Justice Madhu Jain pronounced the verdict and dismissed CBI's plea.

A detailed order is awaited.

CBI had challenged a trial court order passed on December 22, 2022, granting her bail in the case.

While granting her bail, the trial court had directed her to appear before the court as and when the hearing takes place and join the investigation whenever called by the investigating officer.

It had further directed the accused not to communicate with, or come into contact with any of the prosecution witnesses or tamper with the evidence of the case.

It had directed that she would not leave the country without the court's prior permission.

On February 9, 2023, she was granted bail by the high court in the money laundering case related to the alleged scam.

According to the CBI FIR, top officials of NSE including the applicant allegedly conspired with iSec Private Limited to cheat the NSE and its employees, and in furtherance of this criminal conspiracy, the company was hired for illegal interception of the phone calls of NSE employees.

Ramkrishna was appointed as Joint MD NSE in 2009 and remained in the position till March 31, 2013. She was elevated as MD and CEO on April 1, 2013. Her tenure at NSE ended in December 2016.

The FIR was registered under sections 120B, 409 and 420 of IPC, sections 69B, 72, 72A of Information Technology Act, 2000, sections 20, 21, 24 and 26 of the Indian Telegraph Act, sections 3 and 6 of the Indian Wireless Telegraphy Act and sections 13(2) and 13(1)(d) of the Prevention of Corruption Act, 1988.

Thereafter, the Enforcement Directorate (ED) registered an ECIR on the allegations of scheduled offences. The agency had alleged that the revenue of Rs. 4.54 crores generated by ISEC for providing the services constituted "proceeds of crime‟.

Title: CBI v. Chitra Ramakrishna

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