Story perspectives

Supreme Court rejects bid to quash NSE MD corruption case

By Drooid · Sep 15, 2026, 4:38 PM UTC · How we work

Summary

Story summary

Supreme Court declined to intervene in Delhi High Court's refusal to quash corruption case against NSE MD Chitra Ramkrishna.
Supreme Court said special court retains jurisdiction even if she is later found not a public servant.
CBI alleges Ramkrishna facilitated preferential server access for brokers in the 2010-2014 co-location scandal.
Chargesheet accuses her of appointing Anand Subramanian and repeatedly raising his remuneration without committee approval.

History

Historical Context

In April 1992 journalist Sucheta Dalal exposed Harshad Mehta’s manipulation of the Bombay Stock Exchange, which siphoned roughly INR5,000 crore and triggered a market crash. The fallout spurred SEBI’s new enforcement powers and the creation of the National Stock Exchange. In 2024 the Supreme Court’s refusal to stay a petition against NSE MD Chitra Ramkrishna echoes those earlier judicial checks on exchange misconduct.

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Story summary

Supreme Court declined to intervene in Delhi High Court's refusal to quash corruption case against NSE MD Chitra Ramkrishna.
Supreme Court said special court retains jurisdiction even if she is later found not a public servant.
CBI alleges Ramkrishna facilitated preferential server access for brokers in the 2010-2014 co-location scandal.
Chargesheet accuses her of appointing Anand Subramanian and repeatedly raising his remuneration without committee approval.

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