Chitra Ramakrishna Questioned By CBI: 10 Things To Know About The Case

Chitra Ramakrishna case has taken a new turn as the former National Stock Exchange (NSE) Chief was interrogated by CBI after Income Tax authorities. Ramakrishna is accused of leaking financial information to a spiritual guru. CBI has also notified Ramakrishna, Ex COO Anand Subramaniam and former NSE Chief Ravi Narayan not to leave the country till the investigation is ongoing.

Chitra Ramakrishna is being interrogated by the Central Bureau of Investigation following the FIR filed against her as she is alleged accused of breaching financial data with a Yogi living in the Himalayas. Chitra Ramakrishna served as the CEO and Managing Director of the National Stock Exchange from 2013 to 2016 and resigned from her post on the grounds of personal reasons.

The data breach case was registered against Managing Director of OPG securities Sanjay Gupta, Software developer Ajay Shah, several NSE officials for allegedly manipulating stocks from the year 2010 to 2014.

Here are ten things to know about Chitra Ramakrishna Case:

1. The Chitra Ramakrishna case involves breach of valuable information using the ‘tick-by-tick’ system which allows a stock broker to tap into essential information about ‘ticks’ or market feed directly from the stock exchange servers during the period 2010-2014.
2. The brokers who were able to tap into the information first got an approximately 10:1 speed advantage over the other stock brokers.
3. Allegedly, OPG Securities used the system to their unfair advantage against their competitors.
4. Chitra Ramakrishna’s house and other locations have been raided by the Income Tax on February 17 to investigate the claims that allege that the former NSE Chief has been involved in breaching financial information with a spiritual guru living in the Himalayas.
5. After the IT investigation, CBI also questioned Ramakrishna for 12 hours regarding the market manipulation case.
6. Securities and Exchange Board of India (SEBI) has claimed that Ramakrishna served as a puppet for the Yogi Guru who had been running the stock exchange. However, Chitra Ramakrishna has claimed that NSE data was not compromised.
7. According to reports, NSE, Chitra Ramakrishna and Anand Subramaniam have been fined 3 and 2 crores respectively while the stock exchange has been directed not to issue any new products for six months.
8.  SEBI has claimed after its investigation that both the yogi living in Himalayas and Subramaniam are the same person.
9. It is alleged that Ramakrishna took many decisions based on the influence of the spiritual guru with whom she shared confidential financial information.
10. While going through the e-mails exchanged between the former NSE Chief and the guru, SEBI allegedly found that Ramakrishna believed Anand to be her spiritual guru as well as and she shared many personal details.