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In the NSE case the CBI is expected to detain Chitra Ramakrishna

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Sources tell that Chitra Ramakrishna, the former chief of the National Stock Exchange (NSE), is likely to be detained by the Central Bureau of Investigation (CBI) after a Delhi court denied her anticipatory bail appeal on Saturday.

Chitra Ramakrishna had filed a court appeal seeking protection from the CBI’s detention. After the agency objected, her application was denied.

Officials may arrest her shortly, according to sources, but if she goes to the high court, the CBI will have to wait for an order.

Chitra Ramakrishna, NSE’s former Managing Director, and Chief Executive Officer are being investigated for allegedly sharing private NSE information with a “yogi who resides in the Himalayas.”

CBI officers had previously questioned her in Mumbai. Anand Subramaniam, her suspected close friend, and former Group Operating Officer of NSE was previously detained by the CBI.

Officials claim that the suspected discriminatory activities in NSE took place between 2010 and 2015. Ravi Narain was the NSE’s Managing Director and Chief Executive Officer until March 2013. At the time, Chitra Ramakrishna was the company’s, Deputy CEO. She succeeded Ravi Narain as CEO of the NSE, which she led until December 2016.

According to sources, the CBI took action in response to recent SEBI findings (Securities and Exchanges Board of India).

“As during inquiry into the matter of co-location facilities at NSE, SEBI came across all these documentary evidence, which illustrated that Notice No. 1 [Chitra Ramakrishna], former MD & CEO of NSE, had disclosed certain internal confidential information of NSE, viz., organizational structure, dividend scenario, financial results, human resources policy, and related issues, response to the regulator, etc., with an unfamiliar persuasion,” the SEBI said in its order on February 11.

According to sources, the CBI has new evidence in the co-location case against Chitra Ramakrishna.

In 2018, the CBI filed an FIR in a co-location case on the court’s directives. The CBI case involves a stockbroker who allegedly corrupted the NSE’s system with the cooperation of then-top officials to acquire access to the markets before anyone else when they opened.

Sanjay Gupta (promoter of OPG Security Pvt Ltd), Aman Kokrady, his brother-in-law, and data cruncher and researcher Ajay Shah, as well as anonymous NSE and SEBI employees, were listed as suspects in the investigation by the CBI.

The broker’s computer is located in the same area as the stock exchange’s server, which is known as co-location.

In comparison to other brokers, this gives brokers a time advantage. The broker whose computer is housed in the NSE’s server room has first access to market data, allowing them to profit handsomely from stock trading.

In the CBI investigation, broker Sanjay Gupta reportedly had access to the NSE’s co-location facility, allowing his firm, OPG Security Pvt Ltd, to acquire early access to data and earn massive financial profits.

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Around Digha Railway Station, Negligence Causes Massive Water Wastage

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Ignorance leads to huge water wastage near Digha Railway station.

The Wastage

In another case of carelessness, on Wednesday, March 27, a large water pipeline next to the Digha train station was damaged, wasting litres of water. In addition to upsetting locals, this event has drawn criticism for the Navi Mumbai Municipal Corporation’s (NMMC) poor response.

After this occurrence, the NMMC, which was given the task of supervising the construction of citizen amenities, has come under investigation. While there are development projects going on in a number of places, a serious mistake happened close to the Digha railway station on the Thane Belapur route.

A large-water pipe that supplied Digha with water was accidently damaged by a JCB when the M/s Light Strong Company was working on excavation. The large-water pipe burst, resulting in the loss of lakhs of litres of water.

Municipal authorities were notified promptly, yet they did not move decisively against the contractor in question. Locals voiced their displeasure, drawing attention to a persistent problem where contractors appear to start work without proper supervision or responsibility.

“Irrational contractors begin work at their convenience with the tacit approval of Navi Mumbai Municipal Corporation officials,” said one resident. Millions of gallons of water were wasted when a water conduit ruptured close to the Digha railway station while the business was excavating. But neither the contractor nor the executives of the municipal corporation can bear all the blame.

“It is unacceptable to waste water. Additionally, such carelessness should not be tolerated now that summer has arrived. Another neighbor stated, “We hope NMMC takes action against such contractors.”

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The Shiv Foundation Hosts An Exhibition In Vashi Of Weapons Belonging To Chhatrapati Shivaji Maharaj

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On the occasion of our esteemed leader Chhatrapati Shivaji Maharaj birth anniversary, the Shiv Foundation of Shiv Sena (UBT) has arranged an exhibition including Shivaji Maharaj’s weaponry at Chhatrapati Shivaji Maharaj Chowk, Vashi, from March 27 to 28, 2024, from 6 am to 8 pm.

The display provides an overview of the weapons and combat strategies used throughout Shivaji Maharaj’s rule. In order to obtain insight into the struggles and conflicts of the medieval age, visitors can peruse a variety of displays that explain the historical value of these artifacts.

Shree Vitthal More, the District Chief of Shiv Sena (UBT), opened the exhibition, which attracted the interest of both public officials and ordinary people.

There will be a number of cultural activities and celebrations all day long to go along with the exhibition. Residents can take part in flower tributes, ceremonial greetings, and cultural performances honoring Chhatrapati Shivaji Maharaj’s ongoing legacy from morning to evening.

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Prices Of Lemons Rise As Heatwave Hits City

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As Summer & heatwaves strikes, the prices of lemon rise.

The Rise

Since the region has been immersed in intense heat and rising temperatures, lemons have become an extremely popular item in the city. Lemons are becoming an expensive luxury for many people as a result of their record-high costs, which are causing concern among the general public.

The retail market claims that the price of a single lemon has increased dramatically to Rs. 10 per piece, which is a substantial rise over prior months. Some people are so shocked by this increase that they are restricting how much lemon they eat.

Costs have increased overall as a result of the equivalent rise in lemon prices in wholesale marketplaces. The low salaries that define the present economic landscape put more burden on households that are already struggling financially.

The problem has been made worse by the increase in demand for lemons, which is ascribed to their cooling powers during the intense heat. Lemons are also essential for a number of culinary procedures, including the manufacture of lemon juice and the extraction of sugarcane juice.

According to a lemon merchant Varsha Sadanand Devkar. “Over the past 50 years, we have been selling lemons. But since the start of April, the cost has increased. We now sell three lemons for Rs. 25 and six for Rs. 50, while a single lemon costs Rs. 10 a piece.”

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