CBI arrests former NSE chief Chitra Ramkrishna in stock exchange scam

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The CBI has arrested former National Stock Exchange (NSE) Chief Executive Chitra Ramkrishna, who has been indicted by SEBI for lapses the country’s largest stock exchange including sharing confidential financial information with a person she referred to as "Himalayan Yogi",</p>
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The arrest was carried out just a day after a Delhi Court dismissed Ramkrishna plea for pre-arrest bail and took the CBI to task for not taking action against her over the last four years.</p>
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Special Judge Sanjeev Aggarwal also observed that market regulator Securities and Exchange Board of India (SEBI) has been "too kind" to the accused, that she faced serious charges and her sustained custodial interrogation would be required to dig out the truth.</p>
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Last month, the mysterious "Himalayan yogi" who allegedly influenced Ms Ramkrishna's decisions is suspected to be Anand Subramanian, also a former officer at the stock exchange arrested in a market manipulation case.</p>
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His controversial appointment was one of the decisions that Chitra Ramkrishna took under the so-called yogi's influence, SEBI had said in a report.</p>
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The SEBI report alleges that Ms Ramkrishna shared classified information including the financial and business plans of the NSE.</p>
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The report includes Ms Ramkrishna's response to SEBI on questions on her strange dependence on the spiritual guru and her email exchanges with him.</p>
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SEBI noted, based on the emails, that Ms Ramkrishna met this person "several times in 2015". She headed the stock exchange from 2013 to 2016.</p>
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While Ramkrishna has claimed the yogi lives in the Himalayas, she could not explain how the recluse could have accessed emails and corresponded regularly.</p>
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SEBI has also charged Ms Ramkrishna, who was the MD and CEO of the NSE from April 2013 to December 2016, and others with alleged governance lapses in the appointment of Mr Subramanian and his promotion.</p>
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It has said NSE and its board were aware of the interactions with the controversial adviser but had chosen to "keep the matter under wraps".</p>
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A mention of travel to Seychelles, which is both a low tax jurisdiction and tourist hotspot, in the emails sent by the purported Spiritual Guru to former National Stock Exchange (NSE) chief Chitra Ramkrishna is being probed by the investigative agencies.</p>
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<strong>Also read: <a href="https://www.indianarrative.com/economy-news/former-nse-chief-chitra-ramkrishna-spirtual-guru-s-seychelles-link-under-scanner-151446.html">Former NSE chief Chitra Ramkrishna & Spirtual Guru’s Seychelles link under scanner</a></strong></p>