Chitra Ramkrishna, the former CEO of the National Stock Exchange, has been arrested by the CBI. She was arrested in New Delhi on Sunday after a court denied her anticipatory bail request.
Chitra Ramkrishna was the NSE’s CEO from 2013 to 2016. The 59-year-old has been wanted by the CBI in connection with an investigation involving former NSE employee Anand Subramaniam.
She was accused of sending confidential information about the National Stock Exchange to a “yogi who lives in the Himalayas” via email. This “yogi” is thought to be Anand Subramaniam, who was arrested earlier this month in connection with the case.
The incident came to light after the SEBI (Securities and Exchanges Board of India) made public its findings regarding alleged unfair practises at the NSE between 2010 and 2015.
SEBI stated in its order that it discovered documentary evidence demonstrating that Chitra Ramkrishna shared internal NSE confidential information with an unknown person by addressing her correspondence to an email ID from 2014 to 2016.
An FIR was also filed in connection with the CBI’s case in 2018, in which a stockbroker was accused of tampering with the NSE’s system.
CBI officials investigating the case also claimed that stockbroker Sanjay Gupta had “access to the NSE’s co-location facility.” This allowed Gupta’s company, OPG Security Ltd, to gain access to market data before anyone else.