Connect with us
Sunday,19-April-2026
Breaking News

Crime

NSE scam: Court denies bail to Chitra Ramkrishna, Anand Subramanian

Published

on

 A special CBI court here on Thursday refused to grant bail to former NSE head Chitra Ramkrishna and former employee Anand Subramanian, who were arrested by the probe agency in connection with the NSE co-location case.

The special CBI judge of the Rouse Avenue court dismissed their bail applications after hearing the submissions.

Both Ramkrishna and Subramanian, currently lodged in Tihar Jail under judicial custody, have been charge-sheeted under various sections of the IPC.

The co-location scam denotes how some of the brokers, who in the co-location facility offered by the NSE, could place their servers within the stock exchange premises giving them faster access to the markets, had in connivance with insiders abused the algorithm and the facility to make windfall profits.

The CBI has been probing the case since May 2018.

Recently, the SEBI had imposed a fine of Rs 3 crore on Ramkrishna, following the market regulator finding that she allegedly shared vital inputs about the NSE with a mysterious Himalayan yogi, including information on “organisational structure, dividend scenario, financial results, human resource policies and related issues, response to regulator”.

On April 1, 2013, Ramkrishna became the CEO and MD of NSE. She brought Subramanian to the NSE as her advisor. Subramanian was made the Chief Strategic Advisor of NSE. He served at this post between 2013 and 2015 before being made Group Operations Officer and Advisor to the MD between 2015 and 2016, despite having no exposure to the capital market.

Previously working as a mid-level manager in Balmer and Lawrie, he had seen his salary increase from Rs 15 lakh to Rs 1.68 crore annually, and then to Rs 4.21 crore.

Subramanian quit NSE in October 2016 and Ramkrishna left in December 2016. The CBI swung into action in the case in 2018 and has been probing the matter since then.

Crime

Mumbai Police Anti-Narcotics Cell Seizes Drugs Worth ₹2.21 Crore; Nigerian National Arrested In Khar

Published

on

Mumbai: The Anti-Narcotics Cell (Worli Unit) seized 45 ecstasy pills worth Rs 2.21 crore. The ANC booked on April 17 Eze Ezekiel Njoku, 39, a Nazeriam citizen for allegedly possessed drugs. 

The police said the Anti-Narcotics Cell’s Worli Unit, a police team was patrolling the Western Regional Division on the evening of April 16 on the instructions of senior officers. At around 11:15 pm, near the rear side of the ‘Sea Sand’ building on Shirley Rajan Road in Khar West, they noticed a foreign national behaving suspiciously. On seeing the police vehicle, he attempted to flee but was chased, intercepted, and detained.

During interrogation, the accused identified himself as Ije Ezekiel Njoku. He admitted that he was carrying cocaine and MDMA (ecstasy) pills in a blue side-pouch bag, which he intended to sell. A search conducted in the presence of independent witnesses led to the seizure of 213 grams of cocaine and 45 MDMA (ecstasy) pills weighing 24 grams.

The seized cocaine is estimated to be worth ₹2.14 crore, while the ecstasy pills are valued at ₹7.20 lakh, taking the total value of the contraband to ₹2.21 crore.

Police also recovered a Nigerian passport, visa, ₹400 in cash, and an iPhone from the accused. He is a resident of Nalasopara (East). All procedures under the NDPS Act were followed during the operation. A case has been registered at Khar Police Station, and further investigation is underway.

Continue Reading

Crime

NESCO Concert Drug Deaths Case: Mumbai Police Arrests Nigerian National, Seizes Cocaine & MDMA Worth Crores In Khar Raid

Published

on

Mumbai: In a major breakthrough, Mumbai Police’s Anti-Narcotics Cell arrested a Nigerian national in Khar and seized cocaine worth crores along with a large quantity of MDMA tablets during a raid linked to the NESCO drugs party case. The case pertains to the drug case linked to the deaths of two youths at a concert in the NESCO Centre.

The arrest comes amid an ongoing crackdown on a suspected drug supply network operating around high-profile music events in Mumbai. Yesterday, the police also arrested the main accused from Poladpur in Raigad district while he was allegedly attempting to flee towards Goa. According to officials, the accused is suspected of distributing Ecstasy (MDMA) at the concert held on April 11, where two attendees died due to suspected drug overdose. He was intercepted and later handed over to the Vanrai Police for further investigation.

Meanwhile, the others who were arrested in the case were presented before the Metropolitan Magistrate’s Court in Borivali on April 18. The court remanded three accused, Anand Patel, Vineet Gerelani, and Ayush Sahitya, to police custody till April 20, while the other accused were sent to judicial custody. The court granted 14 days’ judicial custody to student Raunak Khandelwal, event organiser Akash Samal, NESCO staff members Sunny Jain and Balkrishnan Kurup, and student Pratik Pandey.

The case began after Shreya Rai (24) and Bismaad Bhasin (28) died of an MDMA overdose. Another attendee, Seetal Salvi (25) remains under observation at Bombay Hospital.

In the investigation, the police noted that the suspects were regular attendees at NESCO Centre events, suggesting a larger network operating at such gatherings. While the concert was permitted only until 10pm, it reportedly continued until 12.30am. Alcohol was also allegedly served to individuals under the age of 25, including the deceased Rai, which is illegal. The victims are suspected to have consumed a lethal combination of both drugs and alcohol.

Continue Reading

Crime

NESCO Concert Drug Deaths Case: Main Accused Held In Raigad’s Poladpur While Attempting To Flee Towards Goa

Published

on

Mumbai: In a major breakthrough in the drug case linked to the deaths of two youths at a concert in NESCO Centre, police have arrested the main accused from Poladpur in Raigad district while he was allegedly attempting to flee towards Goa.

According to officials, the accused is suspected of distributing Ecstasy (MDMA) at the concert held on April 11, where two attendees died due to suspected drug overdose. He was intercepted and later handed over to the Vanrai Police for further investigation.

The arrest comes amid an ongoing crackdown on a suspected drug supply network operating around high-profile music events in Mumbai. A video released by Indo-Asian News Service (IANS) showed the accused being escorted by police personnel following his detention.

Earlier, the Vanrai Police had arrested 21-year-old MBA student Shubh Agarwal from Kalyan, marking the eighth arrest in the case. Agarwal was produced before the Borivali Metropolitan Magistrate Court, which remanded him to police custody till April 20.

The case was registered after the deaths of Shreya Rai (24) and Bismaad Bhasin (28), both of whom are suspected to have consumed a lethal combination of drugs and alcohol. Another attendee, Seetal Salvi (25), remains under treatment at Bombay Hospital.

Cops have also flagged multiple violations at the event, including the concert allegedly continuing beyond the permitted time of 10 pm till around 12:30 am. Additionally, alcohol was reportedly served to individuals below the legal age of 25.

Police said several of the accused were regular attendees at events held at the NESCO Centre, indicating the possible existence of a broader drug distribution network targeting such gatherings.

So far, nine accused have been arrested in the case. Seven of them are scheduled to be produced in court today as the investigation continues.

Continue Reading

Trending