A CBI Court of Delhi on Friday reserved the order on bail plea of Anand Subramanian, former Group Operating Officer and adviser to former MD of National Stock Exchange (NSE).
A Delhi Court on Wednesday sent Anand Subramanian to 14-day judicial custody and pulled up the CBI for the tardy investigation saying that the magnitude of the case “will be big” and the reputation of the country was at stake.
He was the first person who was arrested by CBI in the NSE co-location case last month. The Special CBI Judge Sanjeev Aggarwal on Friday, after concluding the arguments of both sides, said the order in the bail matter will be passed on March 24, 2022.
Advocate Arshdeep Singh Khurana who appeared for Arvind Subramanian argued that as far as the allegations contained in the FIR are concerned, the applicant has been “wrongly implicated in the case, since he is not connected in any manner with the allegations so levelled. No offence is made out even from a reading of the FIR.”
In fact, the FIR pertains to the applicant’s alleged role in the unfair access to co-location facilities to one Sanjay Gupta and his company OPG Security Pvt Ltd. It has been stated that Sanjay Gupta with help from unknown persons, managed the data centre staff of the NSE who passed on information regarding switching on time of NSE exchange servers, which gave him an unfair advantage, submitted Advocate Arshdeep Singh. Advocates Vishnu Mohan and Aakashi Lodha also appeared for Arvind Subramanian in the case.
Earlier, the court had also sent former MD and CEO of NSE Chitra Ramkrishna to seven-day CBI custody in the case. On Wednesday, CBI told the court that a team of 30 members was conducting the probe in the matter. CBI, while producing Ramkrishna after arrest, also apprised the court that she did not recognize Anand Subramanian in the first meeting.