HomeCURRENT AFFAIRSBUSINESSIT conduct raids on premises of former NSE MD Chitra Ramakrishna

IT conduct raids on premises of former NSE MD Chitra Ramakrishna

There has been an Income Tax Raid at the residence of former National Stock Exchange (NSE) CEO Chitra Ramakrishna in Mumbai. She is accused of sharing confidential information with a spiritual teacher. Earlier on February 11, the Securities and Exchange Board of India (Sebi) imposed a fine on Ramakrishna. The market regulator had imposed a fine of Rs 3 crore on Chitra for sharing internal confidential information of the exchange with some unknown person. Apart from this, Chitra is also accused of irregularities in the appointment of a senior officer, Anand Subramanian. NSE and senior management were also responsible for this.

Ramakrishna had said that they were being advised by a yogi living in the Himalayas on decisions regarding Subramanian’s compensation. As per the SEBI order, Ramakrishna, who stepped down in December 2016, shared information such as management structure, dividend position, financial results, HR policy and related matters, response to the regulator, with the unidentified person. Chitra wrote from the email id rigyajursama@outlook.com between 2014 and 2016.

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Subramanian had been the Chief Strategic Advisor of NSE since April 1, 2013. And he was appointed as Group Operating Officer and Advisor to MD & CEO till 21 October 2016. According to the order of the market regulator, Ramakrishna Subramanian was brought in as the Chief Strategic Advisor to the NSE. But Chitra had brought him in as a consultant, whose work was four days a week. Prior to this he worked as a mid-level manager at Balmer and Lawrie. And he had no experience in the stock market before.

His salary in Balmer and Lawrie was Rs 15 lakh annually and it had increased to Rs 1.68 crore on the National Stock Exchange.

Let us tell you that Ramakrishna was the MD and CEO of National Stock Exchange (NSE) from April 2013 to December 2016. She used to call Yogi Siromani, who according to her is a spiritual force and has been guiding her on personal and professional matters for the past 20 years.

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