The Delhi High Court on Thursday granted bail to Chitra Ramkrishna in the money laundering case related to alleged illegal phone tapping and snooping of the National Stock Exchange employees, saying prima facie there are reasonable grounds to believe she is not guilty.

Justice Jasmeet Singh granted bail to the former NSE managing director on a personal bond of Rs 1 lakh and two sureties of the like amount.

“Prima facie there are reasonable grounds to believe that the applicant is not guilty of the offence and she is not likely to commit any offence while on bail...the application is allowed and the applicant is granted bail,” the court said.

Ramkrishna was in custody for almost seven months in the matter.

“In the present case there is no allegation that the applicant has derived or obtained any property or proceeds of crime. Additionally, there is no allegation or evidence produced before me to suggest that the applicant has concealed, possessed, used, projected or claimed any proceeds of crime as untainted property,” the court also observed.

She was granted bail in the CBI case by the high court in September last year after being in custody for approximately seven months post her arrest in March 2022.

Ramkrishna, who was earlier arrested by the CBI in the alleged NSE co-location scam, was arrested in the present case by the Enforcement Directorate on July 14 last year.

The Enforcement Directorate (ED) had opposed her bail plea in the present case on grounds that she was the“mastermind” behind the conspiracy.

The phone tapping case, according to the ED, pertains to a period from 2009 to 2017.