CBI arrests former NSE officer Anand Subramanian over irregularities

New Delhi, February 25

The CBI has arrested former Group Operating Officer (GOO) of the National Stock Exchange (NSE) Anand Subramanian from his Chennai residence late last night as part of its probe into irregularities in offering co-location facilities to stock brokers, said officials.

The officials said, before his arrest the CBI sleuths searched his residence and recovered an e-mail which appeared to have been sent by former Managing Director and Chief Executive Officer Chitra Ramakrishna to send “classified” information to the “yogi” in Himalayas.

With this, the CBI investigators suspect that Subramanian impersonated the “yogi (Sidhha Purush from Himalayas)” as mentioned in the order of the Security & Exchange Board of India (SEBI), fining the top officials of the NSE, to influence decisions of Ramakrishna, officials said. He was brought to Delhi and produced before a special court here which sent him to CBI custody till March 6, they said.

The SEBI has charged Ramkrishna and others with alleged governance lapses in the appointment of Subramanian as the chief strategic adviser and his re-designation as GOO and adviser to the MD.

Before arrest, Subramanian was grilled by the CBI personnel for three consecutive days in Chennai in connection with multi-crore irregularities in offering co-location facility to a Delhi-based stock broking company.

Last week, CBI officials questioned Chitra Ramakrishna and her predecessor Ravi Narain in the same case.

According to the SEBI order, Ramakrishna appointed Subramanian the chief strategic adviser and promoted him as the GOO of NSE with a huge salary package as per the instructions of a “yogi” dwelling in the Himalayas.

The CBI, which was probing the co-location scam since 2018 against a Delhi-based stock broker, swung into action after the SEBI report which showed alleged abuse of power by the then top brass of the NSE, the officials said.

Sent to CBI custody till March 6

• Before Anand Subramanian’s arrest, CBI sleuths searched his residence and recovered an e-mail which appeared to have been sent by ex-CEO Ramakrishna to send ‘classified’ info to the ‘yogi’
• Was taken into custody late Thursday night in Chennai
• He was brought to Delhi and produced before a special court here which sent him to CBI custody till March 6