In the National Stock Exchange fraud, the Central Bureau of Investigation has detained former NSE operating officer Anand Subramanian in Chennai.
Anand Subramanian served as Chief Strategic Advisor from April 1, 2013, to October 21, 2016, when he was re-designated as Group Operating Officer (GOO) and advisor to Chitra Ramakrishna while she was managing director (MD) and Chief Executive Officer (CEO). Interestingly, Chitra Ramakrishna allegedly brought Anand Subramaniam into NSE without following the regulations and procedures.
The CBI was looking into the documents and materials obtained during the interrogation of Anand Subramanian, the former Group Operating Officer of the National Stock Exchange (NSE) and a suspected close associate of his former employer Chitra Subramaniam.
Before her arrest, CBI sleuths investigated his home and discovered an e-mail purportedly written by former Managing Director and Chief Executive Officer Chitra Ramakrishna to deliver "classified" material to a "yogi" in the Himalayas, according to the officials.
According to officials, Subramanian impersonated the "yogi (Sidhha Purush from Himalayas)" as specified in the order of the Security & Exchange Board of India (SEBI) fining the top executives of the NSE in order to influence Ramakrishna's actions. He was transferred to Delhi and appeared before a special court, which ordered him held in CBI custody till March 6, according to reports.
During the interview on Tuesday in Chennai, CBI investigators took possible evidence from Anand Subramanian's home. Subramanian is also suspected of impersonating a 'yogi' to sway then-NSE chief Chitra Ramakrishna.
Between December 15, 2015, and November 2016, the Securities and Exchange Board of India (Sebi) received various complaints alleging governance flaws in Anand Subramanian's appointment as Group Operating Officer and advisor to Chitra Subramaniam.
Prior to her detention, Subramanian was interrogated by CBI agents in Chennai for three days in connection with multi-crore anomalies in the provision of co-location services to a Delhi-based stock brokerage firm.
According to the accusations, Anand Subramanian was hired for such a top position despite having no prior expertise in the finance sector and was receiving a salary of more than Rs 4 crore per year, which was far greater than that of the majority of NSE's senior executives.
Also read: Former nse MD Chitra Ramakrishna s house raided by i t dept
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