SC bins ex-NSE chief Chitra Ramakrishna's plea to stop graft proceedings
· India · Times of India, Hindustan Times
The Supreme Court of India on Tuesday dismissed former National Stock Exchange (NSE) CEO Chitra Ramakrishna’s plea to stop graft proceedings under the Prevention of Corruption Act. A bench led by Justices J B Pardiwala and K Vinod Chandran upheld a Delhi High Court order allowing her prosecution, though it permitted her to argue in trial court whether her role as NSE’s MD and CEO constituted a public duty. The case stems from an SEBI order dated February 11, which linked Ramakrishna to financial irregularities involving the compensation of former NSE employee Anand Subramanian. The court rejected her argument that NSE, being a private entity, could not classify her as discharging a public duty. Proceedings will now proceed as per the Delhi High Court’s earlier directive.
Why it matters
This ruling sets a precedent for how private-sector executives in regulated industries like finance may be held accountable under anti-corruption laws, potentially affecting similar cases involving public-private interface roles. Investors and market participants will watch closely for implications on corporate governance and accountability in India’s financial sector.
Read the original report — Times of India
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