The Delhi High Court on Wednesday dismissed the CBI’s challenge to the bail granted to former NSE managing director and CEO Chitra Ramkrishna in a case related to alleged illegal phone tapping of NSE employees.

Justice Madhu Jain rejected the agency’s plea against the trial court’s December 22, 2022 order granting bail to Ms Ramkrishna.

The CBI, in its FIR, has alleged that senior NSE officials, including Ms. Ramkrishna, conspired with iSec Private Limited to cheat the stock exchange and its employees. The agency has alleged that, as part of the conspiracy, iSec was engaged to illegally intercept the phone calls of NSE employees.

Ms. Ramkrishna joined the NSE as Joint Managing Director in 2009 and held the post until March 31, 2013. She was appointed Managing Director and CEO on April 1, 2013, and continued in the position until December 2016.