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Former NSE CEO challenges PC Act definitions in Delhi HC

Former NSE CEO challenges PC Act definitions in Delhi HC

New Delhi, Nov 10 (SocialNews.XYZ) Chitra Ramkrishna, ex-CEO of the National Stock Exchange (NSE), has filed a plea in the Delhi High Court challenging the definitions of 'public duty' and 'public servant' under the Prevention of Corruption Act (PC Act).

A division bench of Justice Suresh Kumar Kait and Shalinder Kaur has sought response from the Central government and the Central Bureau of Investigation (CBI), setting the hearing for December 19.


Ramkrishna has contested Sections 2(b) and 2(c)(viii) of the PC Act, arguing that they are overly broad and could wrongly implicate individuals not serving public roles. 

An accused in the NSE co-location scam, Ramkrishna faces allegations of manipulating employee designations and compensation.

Senior advocate N. Hariharan, representing Ramkrishna, said that these definitions unfairly extend to private individuals, emphasising NSE's private company status under the Companies Act. 

Hariharan also questioned the validity of the prosecution sanction, contending it lacks proper justification. He argued that quashing the sanction would jeopardise the special court's jurisdiction, a sentiment countered by CBI counsel Anupam S. Sharma. 

Sharma cited a Supreme Court precedent, stating that even a "sprinkle of aid" from the government can classify organisation employees as public servants. 

The court has asked both the parties to submit written arguments.

Source: IANS

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Former NSE CEO challenges PC Act definitions in Delhi HC

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