February 20, 2022
2 mins read

Unknown person was running NSE and Chitra was a puppet in his hands

Even after SEBI had sent the complaints filed against Ramakrishna to NSE, she was still seeking guidance and directions from the unknown person….reports Sanjeev Sharma

It is the unknown person, now referred to as the “Himalayan yogi” who was running the National Stock Exchange (NSE) and the then MD and CEO Chitra Ramakrishna was ‘was merely a puppet in his hands’.

From the email dated December 4, 2015 of the unknown person to Ramakrishna, the unknown person has stated that “Kanchan is the straw and I will be the suction force for this and you will vomit all that is required as always”.

A SEBI investigation found that from the same, it is evident that Ramakrishna had abdicated all her powers to the unknown person and was playing in the hands of an unknown person through the instrumentality of Anand Subramanian.

This is further evident from the email dated October 8, 2015 from Ramakrishna to the unknown person, wherein she states that “Company is running only because of THY Grace and my G’s blessings, Swami”. This clearly shows that it is the unknown person who was running NSE and Ramakrishna was merely a puppet in his hands, the SEBI has found.

Even after SEBI had sent the complaints filed against Ramakrishna to NSE, she was still seeking guidance and directions from the unknown person.

The E&Y Report dated July 5, 2018, submitted by NSE had observed that “We observed select emails which may be confidential information pertaining to NSE being shared by Chitra and Subbu with Rigyajursama. Such information included those pertaining to NSE 5 year financial projections, dividend pay-out ratio, NSE’s business plans, agenda of NSE’s board meeting and consultations over the ratings/performance appraisals of NSE employees.”

Hence, it is clear that confidential information including those pertaining to NSE 5 year financial projections, dividend pay-out ratio, NSE’s business plans, agenda of NSE’s board meeting and consultations over the ratings/performance appraisals of NSE employees has been shared by Ramakrishna with the unknown person, the impact of which could be unimaginably wide and still at large and detrimental for NSE if not the securities market, the probe found.

Ramakrishna has not just sought advice but has acted upon the advice given by the unknown person which is evident from delegation of powers, designation and increase in compensation paid to Subramanian itself, which were all advised by the unknown person.

ALSO READ: India Global Forum: ‘The New India Inc’ to be hosted in Bengaluru

Previous Story

Ukraine crisis: Germany’s Scholz calls for negotiated solution

Next Story

India gets $20.5bn crore worth proposals for ‘Semicon India Programme’

Latest from India News

Zero Tariffs? Trump Claims Big Win Over India

Trump Claims India to Eliminate Tariffs on U.S. Imports..reports Asian Lite News U.S. President Donald Trump announced on Tuesday that India has either already removed or is in the process of removing

UNSC Grills Pakistan Over Pahalgam Attack

Though Pakistan claimed that the meeting largely served and achieved the objectives of the UNSC’s meeting, reports showed that it flopped miserably…reports Asian Lite News The United Nations Security Council (UNSC) reportedly

Azeez Bags Top Kerala Media Award

Anasudhin Azeez serves as the executive editor and managing director of London Daily, a newspaper headquartered in Fleet Street, London. British-Indian journalist Anasudhin Azeez has been chosen as first recipient of the

India Eyes Top 5 Spot in Global Entertainment

With focused investments, policy support, and infrastructural upgrades, India is on track to position itself as one of the top five live entertainment destinations globally by 2030…reports Asian Lite News Fueled by
Go toTop

Don't Miss

Harvard dropout’s NGO rewriting 100,0000+ lives

Last year his NGO SkillSlate Foundation trained 25,000+ individuals, including

Positive FPI Inflows Signal Growth for Indian Markets

There was a total net inflow of Rs 2,82,338 crore