NSE Co-location Scam: CBI seizes digital devices from brokers after raids

The Central Bureau of Investigation (CBI) has recovered incriminating documents, digital devices and other crucial evidences during raids conducted at 10 places belonging to different in connection with the co-location scam involving Chitra Ramkrishna, former MD & CEO of National Stock Exchange (NSE), and Anand Subramanian, the ex-Group Operating Officer of NSE.

The raids were conducted at Delhi, Kolkata, Mumbai, Gurugram, Gandhinagar and other parts of the country.

“We have recovered a few digital devices, documents and other relevant things. We have recorded the statements of a few . In coming weeks, they can be asked to join the investigation,” said a source.

The source said that the digital devices and documents collected during the raids have been sent for forensic examination.

In April, the had filed chargesheet in the matter.

The agency is probing the matter since May 2018 but it hasn’t found any cncrete evidence to identify the mysterious ‘Himalayan Yogi’ with whom classified information were shared by Ramkrishna.

Recently, the SEBI had imposed a fine of Rs 3 crore on her, following the market regulator’s finding that she shared vital inputs about the NSE with the ‘Yogi’.

“Information regarding organisational structure, dividend scenario, financial results, human resource policies and related issues, response to the regulator etc., were shared by her with the Yogi,” said the source.

Between 2014 and 2016, she sent many emails to

Ramkrishna became the CEO & MD of NSE on April 1, 2013. She brought Subramanian to the NSE as her advisor in the same year.

Subramanian was made the Chief Strategic Advisor of NSE. He served at this post between 2013 and 2015 before being made the Group Operating Officer and Advisor to the MD between 2015 and 2016, despite having no exposure to the capital markets.

Previously working as a mid-level manager in Balmer and Lawrie, he had seen his salary increase from Rs 15 lakh to Rs 1.68 crore annually, and then to Rs 4.21 crore.

Subramanian quit the NSE in October 2016 and Ramkrishna in December 2016.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.