NSE case: Did Anand Subramanian impersonate yogi? CBI seizes evidence

The Central Bureau of Investigation (CBI) has seized possible evidence from the residence of Anand Subramanian, former Group Operating Officer of National Stock Exchange (NSE), who is suspected to have impersonated a 'yogi' to influence the then chief of the bourse Chitra Ramakrishna, sources said.
 
The CBI had questioned Subramanian in Chennai and is going through the documents and materials seized during the questioning.
 
CBI is going through the seized documents and material to verify if Subramanian impersonated yogi for his financial benefits by manipulating the functioning of NSE, the sources said.
 
Subramanian was the Chief Strategic Advisor of NSE from April 1, 2013, and was re-designated as Group Operating Officer and advisor to Ramakrishna when she was MD and CEO from April 1, 2015 to October 21, 2016.
 
Ramkrishna is under investigation for allegedly sharing sensitive information about the exchange with a 'yogi who lives in the Himalayas'.
 
According to market regulator Securities and Exchange Board of India's (SEBI's) order, Ramkrishna shared confidential data and information of the exchange with an unidentified person, who she claimed was a spiritual yogi dwelling in the Himalayas.
 
The SEBI order stated that it came across certain documentary evidence that showed that Ramkrishna had shared internal information including organizational structure, dividend scenario, financial results, human resources policy, and related issues, response to regulator, etc. of NSE with an 'unknown person' through emails in the period from 2014 to 2016.

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The market regulator 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 adviser to the MD.
 
SEBI had received several complaints between December 2015 to November 2016 alleging governance issues in the appointment of Subramanian.
 
According to the complaints, Subramanian was hired at such a senior position without having any proper experience in the finance sector and was withdrawing a salary of more than Rs 4 crore per annum which was much higher than most of the seniors at NSE.
 
Before joining NSE, Subramanian used to work with Balmer and Lawrie in middle-level management with zero exposure to capital markets.
 
According to SEBI, Ramakrishna was completely dependent on Subramanian and all her key decisions were taken in consultation with him.
 
(With inputs from Munish Pandey)

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