Ramakrishna’s name came into the limelight when on February 11, SEBI said that it had appointed Anand Subramanian as an advisor to the group operating officer and managing director at the exchange, under the influence of a yogi who roamed the Himalayas.
Central Bureau of Investigation (symbolic photo)
CBI (CBI) on Friday the National Stock Exchange (NSE) of former Chief Executive Officer (CEO) Chitra Ramakrishna (Chitra Ramakrishna) inquired. Officials said the inquiry was made after new facts related to the ongoing probe into the alleged misuse of the “co-location” facility in the NSE came to light. The probe agency has arrested Ramakrishna and another former CEO Ravi Narayan (Ravi Narain) and former Chief Operating Officer (COO) Anand Subramanian for preventing him from leaving the country. The central probe agency has registered a case against Sanjay Gupta, owner and promoter of Delhi-based OPG Security Pvt Ltd, and others for allegedly misusing the “co-location” facility of NSE to gain early access to the stock market. has done.
The agency was already probing the Securities and Exchange Board of India (SEBI) and NSE, Mumbai against unidentified officials and others. The CBI in its FIR has alleged that the owner and promoter of the private company in conspiracy with unknown officials of NSE misused the servers of NSE.
The CBI also alleged that the officials of NSE, Mumbai, during the years 2010 to 2012, misused the “co-location” facility to provide undue access to that company. According to the CBI, by using this inappropriate access, the company was able to login to the stock exchange’s server first, which helped it get the data before other brokers.
SEBI has imposed fine on Ramakrishnan
Ramakrishna’s name came into the limelight when on February 11, SEBI said that it had appointed Anand Subramanian as an advisor to the group operating officer and managing director at the exchange, under the influence of a yogi who roamed the Himalayas. The Securities and Exchange Board of India (Sebi) had accused Ramakrishna and others of violating norms in the appointment of Subramanian as chief strategic advisor and then his reappointment as group operating officer and advisor to the managing director.
Sebi had imposed a fine of Rs 3 crore on Ramakrishnan, Rs 2 crore each on NSE and its former managing directors and chief executive officers Ravi Narayan and Subramanian and Rs 6 lakh on Chief Regulatory and Grievance Officer VR Narasimhan.
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