Chitra Ramakrishna, 59, was the Managing Director and CEO of the National Stock Exchange (NSE) from 2013-16. During this period, Anand Subramaniam was appointed as the Chief Adviser to the Managing Director. He was paid more than 4 crore rupees a year. Various special privileges were granted which were not accorded to any other officer.
Penalty
In his appointment, the Securities and Exchange Board of India (SEBI) accused the National Stock Exchange of violating security rules. The inquest into the allegations proved that irregularities had taken place. Following this, Chitra Ramakrishna was fined Rs. 3 crore and the others Rs. 2 crore. During the investigation, it was revealed that Chitra Ramakrishna had shared many confidential information related to the stock market with Samiya.
SEBI has also released several ‘e-mail’ sources regarding the relationship between the two. Under the circumstances, the Income Tax Department conducted inspections at places in Mumbai owned by Chitra Ramakrishna and Anand Subramaniam.
Authorities say the raid was carried out to gather evidence of allegations of financial misconduct and tax evasion. Moreover, it was not the preacher who guided Chitra; It is learned that the authorities are in the process of locating him. An income tax audit was also conducted at places owned by Chitra Ramakrishna in Chennai yesterday. In it, officials said key documents were trapped.