News Karnataka
Monday, October 03 2022
Business News

NSE ex-chief Ramakrishna under CBI scanner after damning SEBI report

Photo Credit : IANS

New Delhi: National Stock Exchange’s (NSE) former MD and CEO Chitra Ramakrishna is being interrogated by the CBI after a report by market regulator SEBI indicted her for leaking confidential information to a “yogi” living in the Himalayas, and making a key appointment under his influence.

According to the report, she met this yogi on the banks of holy Ganga around 20 years ago, and since then she had been taking his advice in all her personal and professional matters.

Asked to identify the holder of email-id ‘’, she said it was Siddha Purusha and she used to meet him only at holy places.

“I met him for the first time on the banks of the Gangea nearly 20 years ago directly. Subsequently, over the years I have taken his guidance on many personal and professional matters. Along the way, since ‘He’ would manifest at will and I did not have any locational co-ordinates, I requested him for a way in which I could seek His guidance whenever I felt the need. Accordingly, He gave me an id on which I could send my requests,” she had said.

She had sought to justify her actions by saying that being the CEO and MD, she could take advice.

However, the SEBI did not welcome her stand, saying that “it is unfortunate that the head of the leading and largest stock exchange in India has had to resort to such attempts to justify her actions of sharing confidential information pertaining to NSE with an unknown person”.

“We find that it is bizarre attempt at concealing the identity of the unknown person. Clearly such an attempt is unacceptable,” read the SEBI report.

The report also said that she allegedly flouted all the rule and norms in hiring Anand Subramanian at the post of Chief Strategic Advisor and allegedly lied before the Screening Committee.

“The draft contract covering role and responsibility, compensation, tenure, notice period etc was dictated and vetted by Ms Chitra Ramkrishna. The note for approval for engagement of Anand Subramanian was also dictated and finalised by Chitra Ramkrishna,” read the SEBI note.

The position of Chief Strategic Advisor was neither advertised nor any other person considered for it.

Subramanian was not interviewed by anybody but Ramakrishna, and HR did not receive any documents relating to the interview or had any no role to play in his salary as the same was decided by Ramakrishna.

However, Ramakrishna had said that the interview of Anand Subramanian was through HR, which SEBI found to be incorrect and misleading information by Chitra.

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