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NSE Co-location Scam: Anand Subramanian Sentenced to 14-Day Judicial Custody

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On Wednesday, the CBI court in Delhi sentenced Anand Subramanian, the former Group Operating Officer and advisor to the previous MD of the National Stock Exchange (NSE), to 14 days in judicial prison in the NSE Co-location case, according to news agency ANI.

The CBI further informed the court that a special investigation team (SIT) consisting of nearly 30 officers, including senior officials, is examining the Indian stock exchange’s co-location fraud. Subramanian’s custody had previously been extended by a CBI judge until March 9.

Chitra Subramanian was brought before the court on Monday after being arrested the day before on Sunday. Chitra was faced with Anand Subramanian on March 6, before her arrest, but she denied recognizing him, according to the CBI, which is requesting her remand. Even though Chitra and Anand have exchanged at least 2,500 e-mails, she continues to claim that she is unfamiliar with him.

Anand was indeed a close colleague of Ramkrishna, the ex-CEO of the NSE, who was detained by the CBI on Sunday after her anticipatory release was denied by a special CBI court. According to sources, she was apprehended in Delhi and transferred to the CBI headquarters for a medical check-up. Later today, the former NSE boss is expected to appear in court.

From April 1, 2013, Subramanian served as NSE’s Chief Strategic Advisor, and from April 1, 2015, to October 21, 2016, he was re-designated as the Group Operating Officer (GOO) and Ramkrishna’s advisor.

Following “new findings” in a SEBI report that referred to a mystery Himalayan yogi guiding Ramkrishna’s conduct, the CBI expanded its investigation into the NSE colocation scandal on February 26.

According to CBI Counsel on Extended Judicial Custody Ramkrishna, Subramanian must also be confronted for the CBI counsel to grasp the depth and magnitude of the conspiracy.

Ramkrishna hired Subramanian as a consultant at the NSE without “following necessary protocol” or coercing the bourse’s HR department, according to the CBI. He was also given significant managerial authority, similar to that of the previous CEO and MD, according to the report.

The CBI questioned NSE officials last month, including former managing director Ravi Narain, in addition to Ramkrishna and Subramanian.

In a recent ruling, Sebi fined Ramkrishna and Ravi Narain, the NSE’s previous MDs and CEOs, as well as others, for multiple infractions in a case involving the hiring of Anand Subramanian as GOO and advisor to then-MD Ramkrishna.

The ‘Himalayan Yogi’ Perspective

In the appointment of Subramanian, Ramkrishna was influenced by a “yoga” living in the Himalayan mountains, according to the regulator’s order. She was also accused of exchanging confidential information with the yogi, including the bourse’s financial and business objectives, dividend scenario, and financial outcomes, as well as consulting the yogi on the exchange’s staff performance reviews.

As per Ramkrishna, the “yogi” was a “spiritual power that could present itself anywhere it liked, had no physical or locational coordinates, and mostly inhabited in the Himalayan range.”

Furthermore, the yogi and Ramkrishna exchanged e-mails indicating that the NSE was considering a self-listing, according to the ruling.

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MPSC Sets August 31 Deadline to Resolve Student Doubts on Online Examinations

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Commission plans complete clarity on score normalization and server security ahead of digital transition.

The Deadline

The Maharashtra Public Service Commission (MPSC) has established an August 31 deadline to address candidate concerns regarding the transition to online computer-based examinations.

The initiative follows a meeting at MPSC’s CBD Belapur office with student representatives, competitive exam tutors, and youth delegation leaders. Candidates raised critical queries regarding technical infrastructure, server security, and the score normalization formula used across multi-shift examinations.

MPSC officials assured representatives that the commission is taking a constructive approach to student feedback to ensure maximum transparency and fairness. Addressing concerns over scheduling, officials clarified that exam calendars are being structured carefully to prevent overlapping dates across different competitive tests.

To ensure technical integrity, MPSC aims to establish a fully robust, independent in-house digital examination framework by 2027. The commission reiterated that exams will not be outsourced to private contractors. Third-party agencies will only function as technology partners, while C-DAC performs comprehensive technical audits.

Officials affirmed that online examinations will only be conducted once all safety measures and technical readiness are fully achieved.

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NMMC Issues Public Advisory on Illegal Constructions Following High Court Directives

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Civic body intensifies citywide crackdown, orders mandatory hearings, and cautions prospective homebuyers.

Illegal Constructions

Following strict directives from the Bombay High Court in ongoing Public Interest Litigation (PIL) proceedings, the Navi Mumbai Municipal Corporation (NMMC) has issued a comprehensive public advisory against unauthorized constructions across the city.

A citywide survey conducted by the civic body identified 12,687 unauthorized or irregular constructions. Alarmingly, 4,946 of these structures were found to have been erected without any municipal building permissions.

In compliance with judicial orders, NMMC ward offices are conducting a minimum of 150 hearings per week (50 per day, three days weekly) to give property owners an opportunity to present their cases. While owners of eligible structures can apply for regularization through the town planning department, active demolition drives are already underway against non-compliant properties across municipal wards.

The municipal corporation warned that offenders will face legal prosecution under the Maharashtra Regional and Town Planning (MRTP) Act, with demolition costs directly recovered from property owners.

NMMC also issued a strong warning to prospective homebuyers, urging them to verify building permissions, Commencement Certificates (CC), and Occupation Certificates (OC) on the official civic portal before making any property purchases. The authority reiterated that unauthorized buildings will be denied municipal water and sewerage connections.

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Bombay High Court Restores Navi Mumbai Hotel License, Calls for Practical Enforcement

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Court sets aside FDA suspension of four-star hotel’s food license over minor infraction, orders statewide audit of government canteens.

The Food License

The Bombay High Court has set aside an order by the Food and Drug Administration (FDA) that suspended the food safety license of Park Inn by Radisson in Navi Mumbai. Directing authorities to adopt a “realistic approach,” the court ordered the immediate restoration of the hotel’s Food Safety and Standards Authority of India (FSSAI) license.

The FDA had suspended the four-star hotel’s license following a surprise inspection where officials reported hygiene lapses after spotting two insects in the kitchen area. However, a bench comprising Acting Chief Justice Ravindra Ghuge and Justice Gautam Ankhad observed that the hotel had maintained an overall compliance score of 95 percent on hygiene and food safety standards.

The court ruled that shutting down operations based on a single, minor finding was disproportionate. “We are in India. We have to take a realistic stand,” the bench remarked while quashing the suspension.

Addressing potential bias in regulatory actions, the High Court expanded the scope of the matter. It ordered the FDA to conduct comprehensive inspections of all government and semi-government eating establishments state-wide including canteens at the Mantralaya and the High Court and present status reports along with video documentation.

While FDA legal representatives denied selective enforcement noting that several public canteens and prominent Mumbai clubs have also faced action the court’s ruling sends a clear message on balancing regulatory enforcement with practical considerations.

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