The Delhi High Court has declined to interfere with the bail granted to former National Stock Exchange (NSE) Managing Director and CEO Chitra Ramkrishna in the case concerning alleged illegal interception of telephone conversations of NSE employees.
Justice Madhu Jain dismissed the Central Bureau of Investigation’s plea questioning the trial court’s decision to release Ramkrishna on bail. The High Court’s decision leaves intact the bail order passed by the trial court.
The CBI had challenged the trial court’s December 22, 2022 order granting bail to Ramkrishna, who is facing prosecution in connection with allegations of unauthorised interception and recording of telephone calls made by NSE employees.
The prosecution case concerns the alleged engagement of iSec Services Pvt. Ltd. by NSE officials for monitoring and intercepting employees’ telephone communications. According to the CBI, the arrangement was purportedly presented as a measure to identify vulnerabilities in the exchange’s communication infrastructure, although the agency alleges that telephone conversations were intercepted without the requisite statutory authorisation.
The alleged interception is stated to have continued over several years, from 2009 to 2017. The investigating agency has alleged that iSec recorded calls made through MTNL lines installed at the NSE and that payments running into several crores were made to the private agency for the services.
Ramkrishna’s alleged role arises from her senior positions at the NSE during the period under investigation. She served as Joint Managing Director from 2009 until March 2013 and subsequently became Managing Director and Chief Executive Officer, a position she held until December 2016.
The prosecution has invoked provisions relating to criminal conspiracy and other alleged offences, including provisions of the Information Technology Act and the Prevention of Corruption Act.
While granting bail, the trial court had imposed conditions requiring Ramkrishna to cooperate with the investigation and appear before the court as and when directed. She was also barred from influencing witnesses or tampering with evidence and was required to obtain the court’s permission before travelling abroad.
With the High Court now dismissing the CBI’s challenge, the trial court’s order granting bail continues to operate. The detailed reasons for the High Court’s decision are expected to emerge from the written order.
The post Delhi High Court dismisses CBI challenge to Chitra Ramkrishna’s bail in NSE phone tapping case appeared first on India Legal.