Ten Things To Know About Former National Stock Exchange CEO Chitra Ramkrishna’s Arrest

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The former Managing Director and the Chief Executive Officer of the National Stock Exchange (NSE) Chitra Ramkrishna has been sent to seven days Central Bureau of Investigation (CBI) remand by a special court on March 7. Ramkrishna was arrested yesterday in connection with the NSE co-location case.

Her arrest was done after her anticipatory bail application was rejected by the court. She is accused of abusing her position of power to facilitate exploitation and provide access to a stockbroker. Yesterday, she was arrested in New Delhi after being interrogated on the accusation. But reports suggest that she remained evasive during those questioning sessions.

She was interrogated thrice after which she was even examined by the Central Forensic Science Laboratory of CBI. Reportedly, she did not answer truthfully. On Saturday, a Delhi court rejected her bail plea on the basis that her claims of not being involved in the scam could not be proven.

Suggested Reading: 13 Things About The Curious Case Of Chitra Ramakrishna, Former NSE MD And Her Guru

Chitra Ramkrishna Arrest Reason: Ten Things To Know

– In 2013, Ramkrishna was appointed as the first woman managing director and chief executive officer of the National Stock Exchange (NSE).

– She joined NSE when late RK Patil had set it up in 1992 and then was named the Chairperson of the World Federation of Exchanges (WFE), which is a global body for exchanges and clearinghouses. She has spent more than 23 years at the stock exchange.

– But five years back, she quit as the Managing Director of the stock market, reportedly citing health reasons and with immediate effect resigned from the post.

– On February 17, 2022, the income tax department conducted searches on the properties owned by Ramkrishna, this was the second probe on her. The raid was made based on the allegations that Ramkrishna has shared internal exchange information with a third person for illegal gains.

– On February 11, the Securities and Exchange Board of India (SEBI) passed an order in which they found lapses in the “governance and ethical conduct” of Ramkrishna.

– In the same order, they mentioned that she has been allegedly sharing information with a third person named Rigyajursama. They imposed a fine of rupees three crores on Ramkrishna.

– The CBI, later, issued circulars against Ramkrishna along with the former Chief Executive Officer (CEO) Ravi Narain and Chief Operating Officer (COO) Anand Subramanian, to ensure that they cannot leave the country.

– SEBI has also barred them from launching any new product for a period of six months and have restrained Ramkrishna from being associated with any market institution for three years.

– Recently, she was arrested by CBI after her bail plea was rejected. The court expressed suspicion on the story of a Siddha Yogi guiding her.

– Earlier, she had said that she took instructions from a yogi who is based in the Himalayas through email and did not know his identity.

(Feature Image Credit: Economic Times)