The Central Bureau of Investigation (CBI) arrested Anand Subramanian, the former Chief Strategic Advisor of the National Stock Exchange, in Chennai on the night of Thursday and Friday, in the latest development in the NSE fraud investigation.
According to IANS, he will be brought before the relevant court. His remand in custody will be sought by the federal investigation agency.
In Chennai, his remarks were taped for three days in a row. But, according to insiders, he was evasive throughout the interrogation.
Ramakrishna recruited Subramanian to the NSE, and he purportedly had access to the email address used to send the emails to Yogi, with whom the secret material was communicated.
| Sitharaman said the Centre is investigating into governance failures at the NSE.
The SEBI office was raided lately by the CBI, and certain damning documents, including digital data, were discovered.
“These are essential records and evidence that expose the alleged accused in the case’s lying. We’re putting up a strong case against all of the defendants. When our case goes to court, these will aid the prosecution in proving our case “according to the source
On February 19, the CBI interrogated former NSE director Ravi Naraian. Prior to Chitra Ramakrishna, he was the CEO of NSE.
It was previously reported that he had escaped to London and was residing there. However, a CBI source confirmed to IANS that Ravi Naraian was in Delhi at the time of his statement.
“Ravi was invited to participate in the investigation. He came in response to our request. He was summoned to the Delhi office and interrogated. He’s also a suspect in the investigation “According to a source with the CBI,
Ravi was evasive as well, attempting to avoid many inquiries. He also asked for the closure of his LOC.
The CBI had questioned her about how long she had been sending Yogi Baba emails, whether she had been paid for revealing confidential material, and where she had invested the money.
Chitra, Anand Subramanian, and Ravi Narayan have already been named in the CBI’s Lookout Circular.
According to IANS, Chitra and two other people implicated in the case posed a flight risk, which is why the LOC was issued.
On the basis of a 192-page SEBI report, the CBI had filed a FIR against Chitra, accusing her of leaking secret material to a Yogi living in the Himalayas.
The CBI has yet to locate the ‘Yogi’ mystery man.
Chitra’s home in Mumbai and Chennai were raided by the Income Tax Department on February 17. During the raids, incriminating documents were discovered.
Various transactions and digital records were scanned by the IT department. They also recorded a handful of her employees’ statements.
Her fine was recently increased to Rs 3 crore by SEBI. Chitra was allegedly involved in suspicious actions by leaking information, according to a 192-page order posted on SEBI’s official website.
Chitra said that she was receiving directions from a sage in the Himalayas. She also sent him NSE-related emails.
In December 2016, she resigned from SEBI.
She allegedly shared important information with the Yogi, according to reports. “She exchanged information with the Yogi about the organization’s structure, dividend scenario, financial performance, human resource policies and related issues, response to the regulator, and so on,” the person added. Between 2014 and 2016, she used the email address firstname.lastname@example.org to send emails.
NSE promoted Subramanian to Chief Strategic Advisor. Between 2013 and 2015, he held this position. He was promoted to the position of group operational official and MD advisor. Between 2015 and 2016, he was in charge of this position.
Subramanian had no prior experience with the capital market, having worked as a mid-level manager at Balmer and Lawrie. His remuneration was enhanced from Rs 15 lakh to Rs 20 lakh.Rs. 1.68 crore annually. In 2017 his salary was hiked to Rs 4.21 crore yearly.