New Delhi: Former chief executive Ms Chitra Ramakrishna was arrested by CBI officials in Delhi on Sunday night in connection with a national stock market scam case.
Mrs. Chitra Ramakrishna from Tamil Nadu served as the Managing Director and Chief Executive Officer of the National Stock Exchange from 2003 to 2016.
The Securities and Exchange Board of India (SEBI) then accused him of engaging in various malpractices.
SEBI’s inquiry also confirmed that Chitra Ramakrishna had shared important business plans about the stock market and important forecast data about the stock market with the faceless Himalayan priest.
On the advice of the pastor, SEBI’s investigation revealed that Anand Subramaniam, who had no prior experience, was appointed chief strategist of the National Stock Exchange and given a series of pay rises over two years and a salary of four crore rupees.
Chitra was fined Rs 3 crore and Anand Subramaniam was fined Rs 2 crore for committing various such offenses. Five years on, the issue is heating up again.
SEBI has issued notices to former CEOs Chitra Ramakrishna, Ravi Narain and Anand Subramaniam on the 18th on allegations of leaking details of the National Stock Exchange.
Income tax officials subsequently searched homes and buildings owned by Chitra across the country, including in Chennai.
Meanwhile, CBI officials who arrested Anand Subramaniam in Chennai on the 25th are continuing their investigation.
Chitra was arrested in Delhi on Saturday after the CBI special court dismissed her earlier petition seeking bail in the case.