The officials of the Central Bureau of Investigation (CBI) conducted raids on the morning of May 21 in connection with the fraud related to the National Stock Exchange (NSE). CBI has conducted raids in at least 10 cities of the country including Delhi, Mumbai, Noida and Gurugram. These raids have been carried out on the premises of the brokers.
Let us inform that an FIR was registered in 2018 on alleged irregularities in the country’s largest stock exchange. Former NSE chief Chitra Ramakrishna is one of the top accused in this case. This week a Delhi court had also refused to grant him bail. The exchange of his emails with a ‘Himalayan Yogi’ on management has been cited in a report by market regulator SEBI.
Anand Subramaniam, former group operating officer of NSE, is also an accused in the case. Ramakrishna was arrested on March 6 in the co-location case while Subramaniam was arrested in February. The two have been accused of giving undue access to the trading systems of NSE to Delhi-based stockbroker OPG Securities Pvt Ltd and its owner Sanjay Gupta.
The CBI had filed a charge sheet against Ramakrishna last month. A report by market regulator SEBI in February said that a “mysterious Himalayan yogi” was guiding Ramakrishna’s functioning. While there is speculation that Subramaniam was a ‘yogi’. However, this has not been confirmed by the CBI. Subramaniam was initially appointed as Ramakrishna’s advisor and later promoted to the top post.