Former NSE CEO Chitra Ramakrishna sent to 7-day CBI custody, was arrested in the scam

Chitra Ramakrishna, former managing director and chief executive officer of the National Stock Exchange (NSE), has been sent to CBI custody for seven days. He was arrested by the CBI on Sunday night in the co-location scam case.

Chitra Ramakrishna

National Stock Exchange ,NSE, Chitra Ramakrishna, former Managing Director and Chief Executive Officer of (Chitra Ramakrishna) He has been sent to CBI custody for seven days. them CBI co-location scam case on Sunday night (Co-Location Scam) was arrested in Earlier on Saturday, his anticipatory bail plea was rejected. The CBI had interrogated him for three days in February. He also conducted investigation at their house on 24 and 25 February. Officials said that she was not giving the correct answer. The CBI is trying to verify the evidence gathered by it by questioning Subramanian.

The agency has been investigating the case since March 2018, but they have not found any strong evidence to identify the mysterious Himalaya-dwelling Yogi with whom Ramakrishna was sharing important information.

Got the command of National Stock Exchange in 2013

Let us tell you that NSE had overtaken the 100 year old BSE (Bombay Stock Exchange) as India’s largest stock exchange within a year of its launch in 1994. A technical snag in NSE’s sophisticated algorithmic based superfast trading allowed Ramakrishna to rise to the top position of NSE in the male dominated world of stock trading. About 10 lakh crore rupees of investors were wiped out due to this technical fault on the morning of October 5, 2012 in the NSE.

NSE CEO Ravi Narayan had to step down and a few months later on 13 April 2013, the command of NSE was formally handed over to Chitra Ramakrishna. Today, 59-year-old Ramakrishna is at the center of a bizarre scam when a SEBI probe revealed that he was being instructed by a mysterious Himalayan yogi in taking key business decisions of the exchange.

Chitra Ramakrishna was influenced by ‘spiritual guru’

Markets regulator Sebi’s 190-page order in the NSE case, inter alia, said that Chitra Ramakrishna, former managing director and chief executive officer of NSE, was influenced by a ‘spiritual guru’ living in the Himalayan mountains. The case also pertains to lapses in company operations leading to the appointment of Anand Subramaniam as Chief Strategic Advisor and his redesignation as Group Operating Officer and Advisor to the Managing Director.

According to the Sebi order, Ramakrishna, who was the MD and CEO of NSE from April 2013 to December 2016, has allegedly been calling this yogi living in the Himalayas as ‘Shiromani’. Regarding this, the former head of NSE claims that he lives in the Himalayan hills and has been advising him in personal and professional matters for 20 years.

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