CBI Quizzes Chitra Ramkrishna, Issues LOCs To Prevent 3 Accused From Leaving Country

The CBI was also probing unidentified officials of the Securities and Exchange Board of India and NSE, Mumbai, and other unknown persons

New Delhi: In a significant development, the Central Bureau of Investigation (CBI) on Friday quizzed former CEO and MD of National Stock Exchange (NSE) in connection with the fresh facts emerging with its ongoing investigation into the alleged abuse of co-location facility in the NSE, PTI said quoting officials.

The central agency has also issued look out circulars (LOCs) against Ramkrishna, former CEO Ravi Narain, and former COO Anand Subramanian to prevent the trio from leaving the country. They had also booked also a owner and promoter of Delhi-based OPG Securities, Sanjay Gupta, and other in connection with the case.

The agency was also probing unidentified officials of the Securities and Exchange Board of India (Sebi) and NSE, Mumbai and other unknown persons.

The CBI in the FIR said, "It was alleged that the owner and promoter of said private company abused the server architecture of NSE in conspiracy with unknown officials of NSE. It was also alleged that unknown officials of NSE, Mumbai had provided unfair access to said company using the co-location facility during the period 2010-2012 that enabled it to login first to the exchange server of the stock exchange that helped to get the data before any other broker in the market."

Ramkrishna hit the headlines after Sebi issued an order last Friday charging Chitra Ramkrishna and others in a matter of governance lapses in the appointment of Anand Subramanian as chief strategic advisor and his re-designation as group operating officer and advisor to MD.

It was alleged that she was steered by a Himalayan yogi in the appointment of Anand Subramanian as NSE's group operating officer and advisor to the managing director. The regultor charged Ramkrishna and others with alleged governance lapses in the appointment of Subramanian as the chief strategic advisor and his re-designation as group operating officer and advisor to MD.

Ramkrishna was the MD and CEO of NSE from April 2013 to December 2016.

The Sebi last week slapped a penalty of Rs 3 crore on Ramkrishna and her associates, simultaneously restraining her from associating with any market infrastructure institution or any intermediary registered with the Sebi for a period of three years.