NSE scam: Anand Subramanian’s CBI custody extended till March 9

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A Special CBI Court on Monday extended the custody of former Group Operating Officer of National Stock Exchange, Anand Subramanian in the NSE Scam Case till March 9.

Subramanian was produced before Special CBI Judge Sanjeev Aggarwal by CBI. The prosecution sought more custody of the accused, which was allowed by the court till March 9.

On Sunday night, the CBI had also arrested Chitra Ramakrishna the former MD and CEO of NSE in the case. She will be produced before the court later in the day.

Subramanian was arrested on the night of February 24. He was later sent to CBI’s custody.

The Central Bureau of Investigation (CBI) has been probing the matter since May 2018, but they have not been able to find any concrete evidence to identify the mysterious Himalayan Yogi with whom the classified information was shared by Ramakrishna.

Recently, the SEBI had imposed a fine of Rs 3 crore on her, following the market regulator finding that allegedly shared vital inputs about the NSE with the yogi.

“Information regarding organisational structure, dividend scenario, financial results, human resource policies and related issues, response to regulator, etc., were shared by her with the yogi,” said the source. Between 2014 and 2016 she sent emails at rigyajursama@outlook.com.

On April 1, 2013, Ramakrishna became the CEO and MD of NSE. She brought Subramanian to NSE as her advisor in 2013.

Subramanian was made the Chief Strategic Advisor of NSE. He served at this post between 2013 and 2015 before being made Group Operations Officer and Advisor to the MD between 2015 and 2016, despite having no exposure to the capital market.

Previously working as a mid-level manager in Balmer Lawrie & Co, his salary was increased from Rs 15 lakh to Rs 1.68 crore annually, and then to Rs 4.21 crore.

Subramanian quit NSE in October 2016 and Ramakrishna left in December 2016.

The CBI swung into action in the case in 2018 and since then they are probing the matter.

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