The Delhi High Court on Thursday granted bail to former National Stock Exchange chief Chitra Ramkrishna in a money laundering case related to the alleged tapping of phones of exchange employees, PTI reported.

Ramkrishna was booked by the Enforcement Directorate on July 14 along with former National Stock Exchange chief Ravi Narain and former Mumbai Police Commissioner Sanjay Pandey.

The case is linked to the alleged phone tapping of employees of the National Stock Exchange when the co-location scam took place within the trading platform. The Central Bureau of Investigation has alleged that Pandey had set up a company called iSec Securities, which was used for electronic surveillance of the employees.

The co-location scam pertains to allegations of preferential access to the National Stock Exchange trading platform that allowed certain brokers to trade before the markets opened. The first FIR in the case was filed in 2018.

Ramkrishna and Narain have already been booked in the co-location scam by the Central Bureau of Investigation. Ramkrishna was granted bail in the case on September 28.

During the hearing in the money laundering case, the Enforcement Directorate had opposed Ramkrishna’s bail plea on grounds that she was the mastermind behind the conspiracy, according to PTI.

However, Ramkrishna’s counsel had argued that no scheduled offence was made out against her and the allegations also did not fall within the rigours of the Prevention of Money Laundering Act.