NSE Co-Location Case: A Delhi court has refused bail to former National Stock Exchange (NSE) managing director Chitra Ramakrishna and Group Operating Officer (GOO) Anand Subramanyam, Nobel laureate, in the NSE co-location case. Bob Dylan (Noble Prize Winner Bob Dayalan) and Frankenstein Monster have been cited. The court, in its order, said that the financial world, including foreign institutional investors (FIIs), is waiting for NSE to strengthen itself… Wonderful location.
Special Judge Sanjeev Agarwal said this in an order passed on May 12. A 42-page detailed copy of the order was placed on the court’s website on Monday. “It appears that accused Ramakrishna was prima facie running the affairs of NSE as a ‘private club’. As singer-writer, Nobel laureate Bob Dylan once said, “Money doesn’t talk, it wears.”
Foreign investors need fair, transparent and clean stock exchanges
“It’s a song from the 1964 song album It’s Alright, I’m Only Bleeding” which means money not only has an effect, it has a huge impact and it also has an adverse effect on people, he said. The court observed that this present scam may also affect the investment landscape in the country… as do foreign investors, who always want a fair, transparent and clean stock exchange to trade. .
The judge said this during the hearing
The judge said, “In the matter of functioning in NSE, it can be said that there comes a time in the lifetime of an institution where it finds itself in trouble. At that point he would have had to choose a path, a path that instead of stressing things out, could restore it to its old glory, which could later become Frankenstein’s monster.