Monday, June 17, 2024

Former NSE CEO Chitra Ramkrishna arrested in Delhi

CBI on Sunday arrested Chitra Ramkrishna, former CEO and MD of National Stock Exchange (NSE), in a 2018 case of bourse manipulation.

The development came days after former NSE Group Operating Officer, Anand Subramanian, was arrested by the agency in the same case and allegations against Chitra that she was sharing confidential information of the bourse with a “Himalayan Yogi” and had got Subramanian appointed in violation of rules.

More arrests are likely soon in the case, sources say.

Chitra was arrested from Delhi, a day after a court in the national capital dismissed her anticipatory bail plea. The court dismissed the application, saying economic offences had deep-rooted conspiracies involving huge loss of public funds.

Chitra had earlier been questioned by the CBI last month along with Subramanain and former NSE CEO Ravi Narain.

A SEBI order of February 11 has levied a fine of ₹3 crore on Chitra for violating rules in the appointment of Subramanain. The SEBI charged Chitra Ramkrishna with alleged governance lapses in the appointment of Subramanian as the chief strategic advisor and his re-designation as group operating officer and advisor to MD. The regulator has also imposed a fine of ₹2 crore each on NSE, Subramanian and Narain, and ₹6 lakh on V R Narasimhan, the chief regulatory and compliance officer.

An Ernst and Young audit report has indicated that the “Himalayan Yogi” may be none other than Subramanian himself.

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