India
oi-Deepika S
New
Delhi,
Mar
06:
Chitra
Ramakrishna,
former
MD
and
CEO
of
NSE
arrested
by
CBI
in
the
alleged
inventory
market
manipulation
case.
On
February
25,
the
CBI
arrested
former
NSE
group
working
officer
(GOO)
Anand
Subramanian
after
increasing
its
probe
into
a
co-location
rip-off
in
the
change,
following
“contemporary
details”
in
a
SEBI
report
that
referred
to
a
mysterious
“yogi”
guiding
the
actions
of
Ramkrishna.
Ramkrishna
moved
an
anticipatory
bail
utility
to
keep away from
arrest,
which
was
rejected
by
the
particular
courtroom
on
Saturday.
Subramanian
was
allegedly
referred
to
as
the
“yogi”
in
the
forensic
audit,
however
the
Securities
and
Trade
Board
of
India
(SEBI),
in
its
remaining
report,
had
rejected
the
declare.
Ramkrishna,
who
succeeded
former
NSE
CEO
Ravi
Narain
in
2013,
had
appointed
Subramanian
as
her
adviser,
who
was
later
elevated
as
the
GOO
at
a
fats
pay
cheque
of
Rs
4.21
crore
per
annum.
Subramanian’s
controversial
appointment
and
later
elevation,
in addition to
essential
selections,
had been
guided
by
an
unidentified
individual,
who
Ramkrishna
claimed
was
a
formless
mysterious
“yogi”
dwelling
in
the
Himalayas,
a
probe
into
her
e-mail
exchanges
throughout
the
SEBI-ordered
audit
confirmed.
Ramkrishna
had
left
the
NSE
in
December
2016.
On
February
11,
the
SEBI
charged
Ramkrishna
and
others
with
alleged
governance
lapses
in
the
appointment
of
Subramanian
as
the
chief
strategic
adviser
and
his
re-designation
as
GOO
and
advisor
to
the
MD.
SEBI
has
levied
a
tremendous
of
Rs
3
crore
on
Ramkrishna,
Rs
2
crore
every
on
NSE,
Subramanian,
former
NSE
MD
and
CEO
Ravi
Narain,
and
Rs
6
lakh
on
V
R
Narasimhan,
who
was
the
chief
regulatory
officer
and
the
compliance
officer.
The
CBI,
which
was
probing
the
co-location
rip-off
since
2018
towards
a
Delhi-based
inventory
dealer,
swung
into
motion
after
the
SEBI
report
that
confirmed
alleged
abuse
of
energy
by
the
then
prime
brass
of
the
NSE.
The
company
expanded
its
probe
and
grilled
Ramkrishna,
Narain
and
Subramanian
in
connection
with
the
rip-off.
Story first printed: Sunday, March 6, 2022, 23:29 [IST]