NSE Co-Location Scam: CBI Files Charge Sheet Against Former CEO Chitra Ramkrishna, Anand Subramanian

Both Ramkrishna and Subramanian were taken into custody by CBI on March 6 and February 25 respectively after a detailed investigation into the matter

New Delhi: The Central Bureau of Investigation (CBI) on Thursday filed a chargesheet against the former NSE MD and CEO Chitra Ramkrishna and ex-Group Operating Officer Anand Subramanian in the high-profile National Stock Exchange relocation scam. According to reports, the chargsheet by the investigating agency has been filed in CBI special court. 

In its chargesheet, CBI has alleged that Ramkrishna allegedly abused her official position in key decisions among other charges.

Both Ramkrishna and Subramanian were taken into custody by CBI on March 6 and February 25 respectively after a detailed investigation into the matter.

Securities and Exchange Board of India (SEBI), on February 11, had accused Ramkrishna and others with alleged irregularities in the process of appointment of Subramanian as the Chief Strategic Advisor and his re-designation as Group Operating Officer and Advisor to MD.  

SBI also alleged that changes in Subramanian's profile were not brought to the notice of NRC and the board.

Interestingly, Ramkrishna had told SEBI that a formless mysterious 'Yogi' was guiding her over emails in taking the decisions. After arresting both, CBI told the court that formless Yogi is none other than Subramanian who was alleged beneficiary of her decisions.

CBI further pointed out that Ramkrishna, who succeeded former CEO Ravi Narain in 2013, had appointed Subramanian as her advisor who was later elevated as group operating officer (GOO) at a fat pay cheque of Rs 4.21 crore annually. 

In her statement to SEBI, Ramkrishna had said that the unknown person having email id rigyajursama@outlook.com was a 'Sidha-purusha' or 'paramhansa' who did not have a physical persona and could materialise at will. Ramkrishna was promoted as MD and CEO on April 1, 2013 and left the bourse in 2016.

Registered in 2018, an FIR was registered in NSE co-location scam for the alleged commission of offences under sections 204 (destruction of document or electronic evidence) and 120B (conspiracy) of the Indian Penal Code as well as the violation of the provisions of the Information Technology Act and Prevention of Corruption Act.

(With inputs from PTI.)