Ex-NSE Chief Arrested for Stock Exchange Scandal

The former CEO of the the National Stock Exchange (NSE) of India was arrested on Sunday for alleged lapses within the country’s top bourse, including leaking confidential information to an outsider.

The Central Bureau of Investigation (CBI) arrested Chitra Ramkrishna, a month after she was probed for having sought advice for years from an outsider she dubbed as a “Himalayan Yogi”.

The Yogi allegedly received sensitive information about the NSE’s financial results and business plan.

“Ramkrishna has been arrested following questioning and will be produced in a competent court on Monday,” a CBI official said.

An Ernst and Young audit report indicated that the Yogi may be Anand Subramanian, NSE’s former group operating officer and Ramkrishna’s confidante, but there are still no conclusions as to the Yogi’s identity.

Subramanian was arrested last month for involvements in the case and benefitting from Ramkrishna’s abuses of power.

Ramkrishna’s arrest came amid the CBI’s investigation of a 2018 case alleging that the NSE provided a select group of traders access to the stock exchange’s algorithmic trading platform.

In 2015, a whistleblower filed a complaint against the exchange for giving nine brokers unfair advantage over others for a fee.

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