New Delhi: Chitra Ramkrishna, former chief executive of the National Stock Exchange of India (NSE), was arrested by the Central Bureau of Investigation (CBI) late on Sunday night in connection with the so-called colocation case. Chitra is accused of grave irregularities at the stock market including sharing privileged information with an outsider she dubbed a “Himalayan yogi”, according to media reports.
The arrest came just a day after a Delhi Court dismissed her request for pre-arrest bail plea and pulled up the CBI for inaction and being “lackadaisical” in the probe against her in the last four years. The court termed the scam as a “dark period” in the bourse’s history. “Being in pole position in the NSE earlier, there are strong chances that she may influence and tamper with the evidence, as she was Joint MD as well as MD & CEO of the NSE, the role of which is under investigation under the present co-location scam,” the court said.
Last month, the mysterious “Himalayan yogi” who allegedly influenced Ramkrishna’s decisions was outed as Anand Subramanian, also a former officer at the stock exchange arrested in a market manipulation case. Anand Subramanian, the former Chief Operating Officer of the NSE, was the “yogi” who communicated with Chitra Ramkrishna through email, the CBI sources said. The CBI has already arrested Subramanian and he is currently in police remand.
(With agency inputs)
