Aemilius Cupero News:
A court here has sought the response of the CBI on the bail plea of Chitra Ramkrishna, the former MD and CEO of the National Stock Exchange (NSE), who was arrested by the probe agency, in connection with the NSE co-location case.
Issuing notice in the matter, Central Bureau of Investigation (CBI) special court judge Sanjeev Aggarwal asked the central agency to respond in the matter within two weeks, and posted it for further hearing on April 8.
Chitra, who is currently in judicial custody, was arrested on February 24 while Anand Subramanian, former Group Operating Officer and advisor to Ramkrishna, was arrested the next day.
The CBI probing the NSE fraud has been making efforts to find fresh clues to reach to the mysterious ‘Himalayan Yogi’, with whom the classified information was shared by Rakrishna.
It was learnt in the forensic report of Ernst & Young (E&Y) that Subramanian could be the mysterious Yogi.
The SEBI had, on February 11, denied it.
The CBI is trying to corroborate the evidence is collected with the questioning of Subramanian.
It is probing the matter since May 2018 but has failed to find any concrete evidence to identify the mysterious Himalayan Yogi.
Recently, the SEBI imposed a fine of Rs 3 crore on Ramkrishna, following the market regulator finding that she allegedly shared vital inputs about the NSE with the ‘yogi’.
“Information regarding organisational structure, dividend scenario, financial results, human resource policies and related issues, response to regulator, etc., were shared by her with the yogi,” said the source.
Between 2014 and 2016, she sent emails at email@example.com.
On April 1, 2013, Ramkrishna became the CEO and MD of NSE. She brought Subramanian to NSE as her advisor in 2013.
Subramanian was made the Chief Strategic Advisor of NSE. He served at this post between 2013 and 2015 before being made Group Operations Officer and Advisor to the MD between 2015 and 2016, despite having no exposure to the capital market.
Previously working as a mid-level manager in Balmer and Lawrie, he had seen his salary increase from Rs 15 lakh to Rs 1.68 crore annually, and then to Rs 4.21 crore.
Subramanian quit NSE in October 2016 and Ramkrishna in December 2016. The CBI swung into action in the case in 2018 and has been probing the matter since then.