CBI arrests alleged ‘yogi’ Anand Subramanian in NSE scam case

CBI arrests alleged 'yogi' Anand Subramanian in NSE scam case
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The CBI has arrested former NSE operating officer Anand Subramanian in connection with the National Stock Exchange scam.

The Central Bureau of Investigation has arrested former NSE operating officer Anand Subramanian from Chennai in the National Stock Exchange scam.

Anand Subramanian was the Chief Strategic Advisor from April 1, 2013, and was re-designated as Group Operating Officer (GOO) and advisor to Chitra Ramakrishna when she was managing director (MD) and Chief Executive Officer (CEO) from April 01, 2015, till October 21, 2016. Interestingly, Anand Subramaniam was brought into NSE by Chitra Ramakrishna allegedly without following the rules and procedures.

The CBI was examining the documents and materials seized during the questioning of Anand Subramanian, the former Group Operating Officer of National Stock Exchange (NSE) and an alleged close associate of his former boss Chitra Subramaniam.

During the questioning in Chennai on Tuesday, the CBI officials also seized possible evidence from Anand Subramanian’s residence, who is also suspected to have impersonated a ‘yogi’ to influence then NSE chief Chitra Ramakrishna.

The Securities & Exchanges Board of India (Sebi) had received several complaints between December 15, 2015, to November 2016 alleging governance issues in the appointment of Anand Subramanian as the Group Operating Officer and advisor to Chitra Subramaniam.

According to the complaints, Anand Subramanian was hired at such a senior position without having any proper experience in the finance sector and was withdrawing a salary of more than Rs 4 crore per annum which was much higher than most of the seniors at NSE.

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