Chitra Ramakrishna arrested in ‘Himalayan Yogi’ scandal

Chitra Ramkrishna, the former chief executive of the National Stock Exchange (NSE), who was accused of grave lapses at India's largest stock market has been arrested by the CBI.

Special Judge Sanjeev Aggrawal has said that the market regulator Securities and Exchange Board of India has been too kind to the accused.

SEBI has charged Ms Ramkrishna, the MD and CEO of the NSE from April 2013 to December 2016, and others with alleged governance lapses in the appointment of Mr Subramanian and his outsized promotion.

Last month, it was revealed that the mysterious "Himalayan Yogi" who allegedly influenced Ms Ramkrishna's decision was  Anand Subramanian, a former stock exchange officer arrested in a market manipulation case.

It has also been said that NSE and its board were aware of the interactions with the controversial advisor but had chosen to keep the matter under wraps. Meanwhile, CBI is probing the allegations of improper dissemination of information from the computer servers of the market exchanges to stockbrokers in what has come to be known as the co-location scam.

Ramakrishna will be produced in the CBI court in Delhi on Monday along with Anand Subramanian. CBI plans to question both the individuals together and suspects that they introduced “yogi” to mislead the investigation. It is also trying to find out the individual who shared the confidential information from the NSE.