CBI Grills Anand Subramanian, lands at SEBI office

The Central Bureau of Investigation (CBI), which investigates certain irregularities at the National Stock Exchange (NSE), interviewed Anand Subramanian, the former Group Chief Operating Officer (GOO) of the house. Mr. Subramanian has been appointed Chief Strategic Advisor and promoted to Group Chief Operating Officer by Chitra Ramkrishna, former Managing Director (MD) and Chief Executive Officer (CEO) of NSE. Mr Subramanian, who was appointed to his post despite inexperience and a high salary, was “evasive” during the investigation, CBI sources told IANS.

A source told the agency that Mr Subramanian’s statements were recorded for three consecutive days in Chennai.

“His statement is over. We asked him not to leave the country. It will be summoned again whenever we need it. He was evasive throughout the questioning,” the CBI source said.

Mr Subramanian, who was brought to the NSE by its then CEO and MD, Chitra Ramkrishna, is said to have had access to the email id on which the emails were sent to the “Himalayan yogi” with whom the classified information has been shared.

Another CBI team searched the Securities and Exchange Board of India (SEBI) office in Mumbai and recovered incriminating documents, evidence and digital documents.

“These are crucial documents and evidence demonstrating the lies of the defendants involved in the case. We are building an infallible case against all defendants. This will help the prosecution prove our case when it comes to court,” the source told IANS.

Last week, CBI grilled Ravi Narain, the Managing Director and CEO of NSE in front of Ms Ramkrishna. He then became shareholder director and vice-president of NSE before resigning in June 2017.

It had previously been speculated that he fled to London, but the CBI source confirmed that Mr Narain was in India a lot and his statement was recorded.

“Ravi was asked to join the investigation. He responded to our summons. He was called to an office in Delhi where he was grilled. He is also a suspect in the case,” the source said. from CBI to IANS.

He was too evasive and tried to dodge a lot of questions. He also requested that the Supervisory Circular (LoC) issued against him be terminated.

Last week, Chitra Ramkrishna, the ex-MD and CEO of NSE, was grilled by the CBI in Mumbai. On February 18, she filed her statement with the agency.

The CBI had asked him about 50 questions. She had tried to play the victim card by claiming that she didn’t know much. She had also claimed that she was innocent and that someone was trying to frame her.

CBI had asked her, how long had she been emailing Yogi Baba, had she received a discount for sharing classified information, if so, where had she invested the money.

The CBI had already issued a letter of credit against Chitra, Anand Subramanian, the group’s former chief operating officer and Ravi Narain, the former CEO of NSE (before Chitra).

Sources told IANS that Chitra and two other people involved in the case posed a leak risk and therefore the letters of credit were issued. Arrests in the case are now more likely. “There was a risk of flight. There were possibilities that they would flee overseas and we issued the letter of credit taking preventive measures,” sources had told IANS.

CBI has already filed a First Information Report (FIR) against Ms Ramkrishna based on the 192-page order adopted by SEBI. The SEBI recently penalized Ms. Ramkrishna for passing sensitive information about the NSE to this unknown or faceless spiritual entity residing in the Himalayas.

Last Thursday, the Income Tax (IT) Department carried out searches at the Mumbai and Chennai residence of Ms Ramkrishna. At around 7 a.m., about eight IT officials landed at the home of Ms Ramkrisha and her mother. Mrs. Ramkrishna stays in Chembur. His mother lives in a separate house.

The IT department also raided Mr Subramanian’s home, which had remained a mystery to everyone outside NSE. The searches were aimed at verifying accusations of tax evasion and financial irregularities against her and others, according to a media report citing officials. (Read: The mysterious Anand Subramanian, attacked today with Chitra Ramkrishna)

During the searches, incriminating documents were recovered from Ms. Ramkrishna’s home. The IT department scanned various transactions and digital records. They also recorded the statements of some of its employees.

In one order of February 11, 2022, SEBI banned Chitra Ramkrishna, Ravi Narain, former Vice Chairman and Anand Subramanian, former Group Chief Operating Officer (GOO) and Advisor to the Managing Director and CEO, from associating with any market infrastructure institution ( MII) or any intermediary registered with SEBI. While imposing a monetary penalty of Rs3 crore on Ms Ramkrishna, the market regulator asked NSE to waive its excess leave encashment of Rs1.54 crore and deferred bonus of Rs2.83 crore. The market regulator also banned NSE from launching any new products for six months.

Chitra Ramkrishna resigned from NSE on December 2, 2016. However, SEBI has raised serious questions about how NSE’s Board allowed him to leave the Exchange, despite the misconduct in the appointment and sharing of confidential information with an unknown person.

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