A local court on Monday refused to grant bail to former National Stock Exchange CEO Chitra Ramkrishna in the illegal phone-tapping case the Enforcement Directorate is probing under the Prevention of Money Laundering Act.
Special Judge Sunena Sharma dismissed the bail petition filed by Chitra Ramkrishna, who has been behind bars in this case and the co-location scam case since February. Both the cases are being probed by the Central Bureau of Investigation (CBI) and the ED. Ramkrishna’s lawyer said they will move the Delhi High Court against the Special Court’s order, setting aside the application to get her out of Tihar jail.
Also read: NSE co-location scam: CBI Court denies bail to Chitra Ramkrishna, Anand Subramanian
During the arguments on the bail application, the ED had argued that the "investigation is confirmed in the matter and she was directly or indirectly indulging in or knowingly assisted in and was actually involved in all processes or activity connected with the proceeds of crime, including its concealment, possession, acquisition or use, and further in projecting or claiming it as untainted property."
Also read: NSE Co-lo scam: CBI gets 7-day custody of Sanjay Gupta of OPG Securities
The Court also refused bail to another accused in the case, former Mumbai Police Commissioner Sanjay Pandey, whose company was allegedly engaged by the former top brass of the NSE, including Ramkrishna, to snoop on its employees. The NSE had engaged iSec Securities Pvt. Ltd for a 'Periodic Study of Cyber Vulnerabilities' of the NSE, the agency had earlier charged.
The ED took the case from the CBI to investigate the proceeds of the alleged phone-tapping crime.