On Sunday, CBI arrested former CEO and MD of NSE (National Stock Exchange) Chitra Ramkrishna in a case of bourse manipulation. This is the second high-profile arrest in the case, with the agency last month arresting Anand Subramanian, who is the NSE’s former group operating officer and Ramakrishna’s deputy and confidante.
Earlier, Chitra Ramakrishna has been questioned by the agency last month along with Subramanian and former NSE CEO Ravi Narain.
The CBI action comes after the allegations against Ramakrishna that she was sharing confidential information of the bourse with a ‘Himalayan Yogi’ and had appointed Subramanian in violation of rules. The investigating agencies have not
On 11th February, SEBI has levied a fine of 3 Crores INR on Chitra for violating rules in his appointment.
Last month, a CBI team visited the SEBI office in Mumbai and collected documents related to the case in which it has already booked Sanjay Gupta, who is the owner and promoter of Delhi-based OPG Securities Pvt Ltd.
Gupta managed the data center staff to NSE with the help of his brother-in-law Aman Kokrady and other unknown persons. He passed the information regarding switching on time of NSE exchange servers. Some unknown NSE officials gave OPG Securities Pvt Ltd access to servers that were technologically least crowded at that particular time. With this, OPG Securities Pvt Ltd became the first one to log in on the exchange servers of the NSE.
The allegations of unpair access were first made by a whistleblower who wrote to SEBI in January 2015.
