CBI on Sunday arrested Chitra Ramkrishna, former CEO and MD of National Stock Exchange (NSE), in a 2018 case of bourse manipulation. This is the second high-profile arrest in the case, with the agency last month arresting Anand Subramanian, NSE’s former group operating officer and Ramkrishna’s deputy and confidante.
“Ramkrishna has been arrested following questioning and will be produced in a competent court on Monday,” a CBI official said. Ramkrishna had earlier been questioned by the agency last month along with Subramanain and former NSE CEO Ravi Narain.
The CBI action comes in the wake of allegations against Ramkrishna that she was sharing confidential information of the bourse with a “Himalayan Yogi” and had got Subramanian appointed in violation of rules.
The CBI’s case pertains to charges of some brokers being given preferential access to the NSE’s trading system in the form of a co-location facility through which they bought “rack space” for their servers. According to the agency, these traders obtained faster access to the Exchange’s data feed — even a split-second advantage can lead to huge gains.
According to the CBI, between 2010 and 2014, Gupta allegedly “abused” the NSE server architecture in a criminal conspiracy with “unknown officials” from the Exchange.
