SEBI says that at the behest of Himalayan Yogi, Chitra Ramakrishna appointed Anand Subramaniam as an advisor to the Group Operating Officer and Managing Director of the exchange.
Chitra Ramakrishna, former MD and CEO of NSE, used to take decisions at the behest of a Himalayan yogi. Market regulator SEBI has made this shocking disclosure in its final order passed on Friday against Ramakrishna and others. SEBI says that at the behest of Himalayan Yogi, he (Chitra Ramakrishna) had appointed Anand Subramaniam as an advisor to the Group Operating Officer and Managing Director in the exchange.
SEBI has also imposed a fine on Ramakrishna and others. This fine has been imposed for violation of securities contract rules in the appointment of Subramanian. The regulator has taken this step in view of the violation of securities contract rules in the appointment of Anand Subramanian as the operating officer and advisor to the managing director (MD) of the group.
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Ramakrishna used to call Yogi as Siromani
Ramakrishna was the MD and CEO of NSE from April 2013 to December 2016. She used to call Yogi as Siromani. According to Ramakrishna, a yogi is a spiritual force and has been guiding him in personal and professional matters for the past 20 years. Ramakrishna believes that this unknown person or yogi was allegedly a spiritual force, which could appear anywhere he wanted. SEBI has said in its 190-page order that Yogi asked them to appoint Subramaniam. Taking action in this matter, SEBI has imposed fine on Ramakrishna and Subramanian as well as NSE and its former Managing Director and Operating Officer Ravi Narayan and others.
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fined so much
SEBI imposed a fine of Rs 3 crore on Ramakrishna, Rs 2 crore each on National Stock Exchange (NSE), Narayan and Subramanian and Rs 6 lakh on V R Narasimhan. Along with this, the regulator barred NSE from introducing any new product for six months. In addition, Ramakrishna and Subramanian have been barred from associating with any market infrastructure institution or any intermediary registered with SEBI for a period of three years. Whereas for Narayan this restriction is for two years. Apart from this, SEBI has also directed NSE to forfeit the deferred bonus of Rs 1.54 crore and Rs 2.83 crore paid in lieu of extra leave to Ramakrishna.
(Input-PTI)
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