CBI questioning former NSE MD Chitra Ramkrishna in connection with co-location case
Feb 18, 2022
New Delhi [India], February 18 : The Central Bureau of Investigation (CBI) is questioning former managing director and chief executive officer of National Stock Exchange (NSE) Chitra Ramkrishna in connection with the NSE co-location case in Mumbai, sources told ANI on Friday.
According to the sources, a look out circular has been issued against Chitra Ramkrishna. A look out circular has also been issued against Ravi Narain, who was MD and CEO of the NSE before Chitra Ramkrishna.
Ravi Narain was the MD and CEO of the National Stock Exchange from April 1994 till March 2013, while Chitra Ramkrishna was MD and CEO of the NSE from April 2013 to December 2016.
The Income Tax (IT) Department on Thursday raided various premises linked to Chitra Ramkrishna in Mumbai and Chennai.
Ramkrishna has also been on the radar of the market regulator Securities and Exchange Board of India (SEBI).
Last week the SEBI penalized Chitra Ramkrishna, her predecessor at the NSE Ravi Narain, two other officials along with the NSE for lapses in hiring at the senior level.
The market regulator found that the NSE and its top officials violated securities contract rules related to the appointment of Anand Subramanian as group operating officer and adviser to the Managing Director.
SEBI has slapped a penalty of Rs 3 crore on Chitra Ramkrishna, in a fresh order in the co-location case. The 190-page order also faulted Ramkrishna for running the exchange at the behest of a mysterious yogi. The market regulator SEBI called it "bizarre misconduct" and a "glaring breach" of regulations.
