A Delhi Court on Monday denied bail to Former NSE CEO Chitra Ramkrishna in a money laundering case registered by the Enforcement Directorate in connection with an alleged illegal phone tapping case related to NSE employees.

Special CBI Judge Sunena Sharma dismissed the bail plea today after it had reserved the order on August 25. A detailed order is awaited.

As per the ED, senior officials of NSE (National Stock Exchange) had issued agreement or work orders "under the guise of Periodic Study of Cyber Vulnerabilities of NSE in favour of iSEC Services Pvt. Ltd." and illegally intercepted the phone calls of its employees.

The agency further alleged that the illegal interception was done by installing a machine without seeking permission from the competent authority as per the Telegraph Act.

The ED thus alleged that a wrongful gain amounting to Rs. 4.54 crores were caused to iSEC as payment thereby causing wrongful loss to NSE. 

The bail plea was opposed by the agency arguing that the investigation was ongoing and that Ramakrishna was "directly or indirectly" indulged in the alleged offence of money laundering.

(Story to be updated)