Former National Stock Exchange CEO Chitra Ramkrishna Arrested

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Chitra Ramkrishna was arrested by the Central Bureau of Investigation on March 6, after her anticipatory bail application was rejected by court. Ramkrishna is the former Managing Director and the Chief Executive Officer of the National Stock Exchange.

Ramkrishna was arrested following an accusation of abusing her position of power to facilitate exploitation and provide access to a stockbroker. She was arrested in New Delhi after being questioned and reports suggested that during the interrogation she remained evasive.

She was interrogated thrice by the investigating agency after which the Central Forensic Science Laboratory of CBI too examined her but she reportedly did not answer truthfully. On Saturday, a Delhi court rejected her bail plea.

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The bail plea was rejected on the basis that her claims on not being involved in the scam could not be proven and the court expressed suspicion on the story of a Siddha Yogi guiding her. Earlier, Ramkrishna said that she took instructions from a yogi who is based in the Himalayas through email and does not know his identity.

Chitra Ramkrishna Arrested

Recently, CBI had also arrested Anand Subramanian, who is the former group operating officer of the NSE and is involved in the case. He was appointed at Ramkrishna’s directions which violated the norms of appointment.

Along with Ramkrishna, Subramanian, her former bose Ravi Narain and a few other colleagues have been indicted by the Security Exchange Board of India (SEBI).

Ramkrishna headed the NSE for five years between 2013 and 2016. The case against Ramkrishna was filed back in May 2018. In a 190 page long order, SEBI cited the government lapses at the exchange. It also mentioned Ramakrishna “continuously shared internal confidential information about the NSE.” She reported talking about financial data, board meeting agenda, business plan and employee performance appraisals.

“If one has to drive home a point, then we need to continuously ponder on seeing our agenda through. So, restructuring is already now a buy-in. We need to make noises on self-listing by knocking on the doors of the few. FM, PMO Somanathan, Cabinet Secretary, Economic Advisor and finally the PM. These are not difficult as you think we must fo two people in a mixt at a time Kanchan will evaluate as per MY will. Don’t worry the straw knows when to be a capillary and when NOT to. Kanchan is the straw and I will be the suction force for this and you will vomit all that is required as always,” SEBI quoted one of the emails.

(Feature Image Credit: Economic Times)