new Delhi . In a fresh development in the National Stock Exchange co-location scam involving its former CEO Chitra Ramakrishna and others, the Enforcement Directorate (ED) on Friday conducted searches at nine different places in Haryana’s Gurugram.
The search began on Friday morning.
Ramakrishna was earlier arrested by the CBI along with other co-accused. The ED case is based on the CBI FIR.
The CBI has been probing the case since May 2018, but the agency has not found any concrete evidence to identify the mysterious Himalaya Yogi, with whom former NSE Managing Director and CEO Chitra Ramakrishna shared confidential information.
Recently, SEBI had imposed a penalty of Rs 3 crore on him after the market regulator found that he had allegedly shared important information about NSE with Yogi. “Information about the organizational structure, dividend outlook, financial results, human resource policies and related issues, response of the regulator etc. was shared with Yogi between 2014 and 2016,” a source said.
Ramakrishna became the CEO and MD of NSE on 1 April 2013. She brought Subramaniam to NSE as her advisor in 2013.
Subramaniam was made the Chief Strategic Advisor of NSE. He held this position between 2013 and 2015 before becoming Group Operations Officer and Advisor to MD between 2015 and 2016 despite having no exposure to capital markets.
First working as a mid-level manager at Balmer & Lawrie, he saw his salary rise from Rs 15 lakh to Rs 1.68 crore annually and then to Rs 4.21 crore.
Subramaniam left NSE in October 2016 and Ramakrishna in December 2016. The CBI swung into action in the case in 2018 and since then they have been probing the case.
—AnyTV News
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