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Tag: Chitra Ramakrishna

  • NSE case: Ex-Mumbai best cop Sanjay Pandey denied bail

    Via IANS

    NEW DELHI: A Delhi courtroom on Thursday denied bail to former Mumbai Police Commissioner Sanjay Pandey, who was once arrested in reference to a cash laundering case bearing on the telephone tapping of the workers of the Nationwide Inventory Change (NSE) between 2009 and 2017, allegedly at the directions of NSE’s former CEO and MD Chitra Ramkrishna.

    Particular pass judgement on Sunena Sharma disregarded the bail utility of the previous police officer. On Tuesday, Pandey was once despatched to judicial custody until August 16 in reference to the cash laundering case registered via the Enforcement Directorate (ED). He was once arrested on July 19.

    All the way through the process the listening to, Recommend Tanveer Ahmed Mir, who represented the petitioner, argued that his consumer was once actually a ‘whistleblower’ on the NSE.

    Opposing the plea, Further Solicitor Normal (ASG) S.V. Raju and Particular Public Prosecutor N.Okay. Matta, seemed on behalf of the ED, and identified that Pandey is an influential particular person.

    Ramkrishna is already within the custody of ED in the similar case at the foundation of an FIR registered via the CBI.

    The case was once lodged via the probe company at the instructions of the Union Ministry of House Affairs. Previous, the CBI had recorded Pandey’s commentary at CBI’s Mumbai-based headquarters.

    After wondering, he was once allowed to go away. The CBI had additionally performed raids in Mumbai, Pune and in numerous different portions of the rustic in reference to the case.

    “Pandey ran iSec Securities Pvt Ltd. It’s been alleged that Ramkrishna used this company to faucet the telephones of NSE’s workers. The telephone calls made via NSE workers between 9 a.m. and 10 a.m. had been tapped and recorded via iSec Securities. It’s been alleged that Pandey helped in tapping the telephone calls illegally,” resources stated.

    NEW DELHI: A Delhi courtroom on Thursday denied bail to former Mumbai Police Commissioner Sanjay Pandey, who was once arrested in reference to a cash laundering case bearing on the telephone tapping of the workers of the Nationwide Inventory Change (NSE) between 2009 and 2017, allegedly at the directions of NSE’s former CEO and MD Chitra Ramkrishna.

    Particular pass judgement on Sunena Sharma disregarded the bail utility of the previous police officer. On Tuesday, Pandey was once despatched to judicial custody until August 16 in reference to the cash laundering case registered via the Enforcement Directorate (ED). He was once arrested on July 19.

    All the way through the process the listening to, Recommend Tanveer Ahmed Mir, who represented the petitioner, argued that his consumer was once actually a ‘whistleblower’ on the NSE.

    Opposing the plea, Further Solicitor Normal (ASG) S.V. Raju and Particular Public Prosecutor N.Okay. Matta, seemed on behalf of the ED, and identified that Pandey is an influential particular person.

    Ramkrishna is already within the custody of ED in the similar case at the foundation of an FIR registered via the CBI.

    The case was once lodged via the probe company at the instructions of the Union Ministry of House Affairs. Previous, the CBI had recorded Pandey’s commentary at CBI’s Mumbai-based headquarters.

    After wondering, he was once allowed to go away. The CBI had additionally performed raids in Mumbai, Pune and in numerous different portions of the rustic in reference to the case.

    “Pandey ran iSec Securities Pvt Ltd. It’s been alleged that Ramkrishna used this company to faucet the telephones of NSE’s workers. The telephone calls made via NSE workers between 9 a.m. and 10 a.m. had been tapped and recorded via iSec Securities. It’s been alleged that Pandey helped in tapping the telephone calls illegally,” resources stated.

  • CBI to supply former NSE CEO Chitra Ramakrishna in native Particular courtroom

    Categorical Information Provider

    The Central Bureau of Investigation (CBI) will produce former leader government of  Nationwide Inventory Change Chitra Ramakrishna within the native Particular courtroom of CBI instances in search of custodial remand of her in reference to the multi crores marketplace manipulation-cum-irregularities case of NSE, lodged in opposition to her and others with the company.

    She used to be after all taken into custody by way of the CBI after wondering her for ultimate a few days right through which her replies have been discovered unsatisfactory.

    CBI resources on Monday morning stated that she could be taken on custodial remand with the permission of the involved courtroom. Previous, the CBI Spl courtroom had rejected the plea for anticipatory bail and expressed displeasure over the lackadaisical angle of the company running at the case.

    Previous to her arrest, Anand Subramanian-The previous Crew Working Officer and the nearest to Chitra Ramakrishna used to be arrested in reference to the continued investigation into the NSE colocation subject.

    ALSO READ| Published: The Chennai area that Chitra Ramkrishna offered to Anand Subramanian’s spouse in 2021!

    CBI resources additionally stated that the times of Anand Subramanian ended on Sunday, so the CBI may even produce him within the Particular courtroom in search of the second one remand of Anand Subramanian on Monday except generating Chitra Ramakrishna.

    ALSO READ: Have been ex-CEO of NSE Chitra Ramkrishna and Anand Subramanian making plans to show neighbours?

    Each are accused of complicity in committing grave irregularities out there manipulation and buying and selling in addition to passing confidential data to outsiders together with one that persevered in conversation with Chitra Ramakrishna with a pseudo-identity known as”Himalayan Yogi”.

  • Executive taking a look into governance lapses that took place at NSE: Finance Minister

    By means of PTI

    MUMBAI: Finance Minister Nirmala Sitharaman on Tuesday mentioned the federal government is taking a look into the governance lapses that had took place on the Nationwide Inventory Change (NSE) however declined to touch upon whether or not there used to be an ok correctional step on the subject of movements taken in opposition to those that have been held accountable for the lapses.

    Previous this month, markets watchdog Sebi penalised NSE and its former MDs and CEOs, Chitra Ramkrishna and Ravi Narain, and others for quite a lot of violations in a case associated with the appointment of Anand Subramanian as Team Running Officer and Guide to then MD Ramkrishna.

    The regulator additionally imposed a nice of Rs 3 crore on Ramkrishna, Rs 2 crore every at the NSE, Narain and Subramanian and Rs 6 lakh on V R Narasimhan, who used to be then the Leader Regulatory Officer and Leader Compliance Officer.

    Sitharaman advised journalists right here on Tuesday that the federal government used to be taking a look into the governance lapses that had took place on the change.

    “I don’t have any remark to make on whether or not there used to be an ok correctional step within the sense of penalising or the rest taken in opposition to those that have been held accountable for it. I don’t have any view this fashion or that method until I actually unravel what’s to be had earlier than me. I’m taking a look into it however I will be unable to touch upon it nowadays,” Sitharaman mentioned.

    She used to be responding to queries, together with on whether or not the consequences imposed have been ok.

    Ramkrishna used to be MD and CEO of NSE from April 2013 to December 2016, Narain used to be the MD and CEO of the change from April 1994 until March 2013.

    Thereafter, he used to be appointed as Vice Chairman within the non-executive class at the NSE’s board from April 2013 and remained so until June 2017.

    In keeping with the Sebi order, Ramkrishna used to be prompt by means of a yogi residing within the Himalayan levels within the appointment of Subramanian because the change’s Team Running Officer and Guide to MD.

    The unknown individual or yogi consistent with Ramkrishna used to be a “non secular power that would present itself anyplace it sought after and didn’t have any bodily or locational co-ordinates and in large part dwelt within the Himalayan vary”.

    Sebi had additionally famous that regardless of being conscious about the irregularities at the appointment of Subramanian, NSE and different officers, together with former MD and CEO Ravi Narain didn’t file the topic within the mins of the board assembly within the identify of confidentiality and delicate knowledge.

    Whilst passing a 190-page order within the topic, Sebi had additionally barred NSE from launching any new product for a length of six months.

  • Himalayan baba would possibly allegedly be former finance minister Subramaniam, claims supply

    Specific Information Carrier

    The CBI and tax government have swooped down on former MD & CEO of the Nationwide Inventory Alternate Chitra Ramkrishna. However they have got now not been ready to seek out the identification of the so-called Himalayan Baba who ran India’s largest inventory trade from at the back of the scenes.

    Extremely positioned resources informed TNIE, that this individual isn’t any baba and has not anything to do with the Himalayas, and is in all probability from the opposite finish of the rustic. They are saying he’s a former bureaucrat from the Union finance ministry who used to be in control of the capital marketplace and is credited with shaping the profession of Ramkrishna and serving to her achieve the highest at NSE.

    Strongly rejecting the opportunity of NSE’s Leader Technique Consultant Anand Subramaniam being the Baba, resources stated there have been some other people, who sought after the problem to be closed via making Subramaniam – as the one who used to be speaking with Ramkrishna the use of the e-mail identity [email protected]. 

    If Subramaniam is established because the Baba, then the intense fee of leaking delicate knowledge to an intruder would depart. This idea of Subramaniam being the Baba could also be being driven via the NSE board.

    SEBI, then again, has rejected this idea after an in depth investigation into the topic. SEBI investigation has additionally established that the NSE board had complete wisdom of Ramkrishna sharing delicate NSE knowledge with an unknown one that used the e-mail identity [email protected].

    But, the board allowed her to renounce and go away and took no motion towards her. In reality, the board thanked her for her products and services. Resources stated participants of the board also are prone to be probed as investigation widens within the case.

    In keeping with resources, the identify of this bureaucrat who used the identification of a baba would pop out if the CBI dives deep into the case. “But when the case is investigated just like the co-location rip-off the place NSE used to be allowed to break out with a high-quality, then the baba will stay a thriller,” resources stated.

    They stated that NSE’s idea that Subramaniam used the pretend identity to be able to keep up a correspondence with Ramkrishna and search favours from her is intentionally deceptive. “The individual the use of [email protected] identity is understood intricate main points of NSE’s functioning and hierarchy. Subramanian used to be a newbie. He got here from outdoor. The authoritative tone of the messages from that mail identity is a transparent giveaway concerning the seniority and information of the consumer,” resources stated. They stated Subramaniam may by no means have informed Ramkrishna, “You’re going to vomit all this is required as all the time.” It is a communique from a tutor to a student. Now not from a junior to his senior, they stated.

    In a mail, the unknown baba tells Ramkrishna “don’t concern, the straw recognized when to be a capillary and when to not. Kanchan (Subramaniam) would be the straw and I can be the suction power for this and you’ll vomit all this is required as all the time.” Right here, the unknown individual is telling Ramkrishna to copy his strains in discussions with SEBI, PMO and finance ministry at the record of inventory exchanges.

    All the way through the process investigation within the co-location case, SEBI got here throughout sure documentary proof, which exhibit that the MD & CEO of NSE had shared sure inner confidential knowledge of NSE viz Organizational Construction, Dividend Situation, Monetary Effects, Human Assets Coverage and comparable Problems, Reaction to Regulator and so forth with an unknown individual via addressing her correspondence to an e mail identity [email protected] throughout the length 2014 to 2016.

    SEBI investigator Ananta Barua concluded, “I to find the allegation that Noticee no. 6 (Subramaniam) has exploited Noticee no. 1 (Ramkrishna) via developing any other identification prior to her within the type of the unknown individual having e mail identity [email protected] to steer her carry out her tasks consistent with his want, isn’t sustainable.”

    SEBI stated it used to be unlucky that the top of the main and biggest inventory trade in India has needed to hotel to such makes an attempt to justify her movements of sharing confidential knowledge bearing on NSE with an unknown individual. 

    “I to find that this can be a ordinary strive at concealing the identification of the unknown individual. Obviously, such an strive is unacceptable. I notice that the Noticee no. 1 (Ramkrishna) herself has mentioned that – “Who else and whom he would correspond with used to be outdoor my purview. He can have corresponded with any others too”, and subsequently, Noticee no. 1 has no assurance herself that the confidential knowledge she has handed directly to the unknown individual isn’t being handed directly to different individuals. Subsequently, I to find that this can be a evident breach of the laws and regulations in position that calls for key officers and staff to handle confidential knowledge of the corporate, which on this case being NSE, which is the main and biggest inventory trade in India,” the SEBI order stated.

  • I-T raids on former NSE MD: Cong questions silence of PM, FM on inventory trade’s functioning

    By way of PTI

    NEW DELHI: The Congress on Thursday puzzled the high minister and the finance minister on their silence over the functioning of the Nationwide Inventory Alternate, quickly after the source of revenue tax division raided its former managing director.

    The dep. raided the premises of former NSE MD and CEO Chitra Ramkrishna and staff running officer Anand Subramanian in Mumbai as a part of a tax evasion investigation towards them, professional resources mentioned.

    Ramkrishna hit the headlines after a contemporary Securities and Alternate Board of India (Sebi) order mentioned she used to be suggested via a yogi, residing within the Himalayan levels, within the appointment of Subramanian because the trade’s staff running officer and guide to the MD.

    “On fifteenth February, the Congress raised the problem of a ‘Baba’ working the Nationwide Inventory Alternate (NSE) and a complicit Modi Executive-Finance Ministry-Ministry of Company Affairs-SFIO-FIU-CBI-ED last mum,” Congress common secretary and leader spokesperson Randeep Surjewala mentioned on Twitter.

    “The source of revenue tax (division) has woken up belatedly. The finance and company ministries stay in denial,” he alleged.

    The Congress chief additionally mentioned questions stay as to how a ‘Baba’ used to be remotely working the NSE, which has a marketplace capital of Rs 300 lakh crore.

    “Will the high minister (Narendra Modi) and the finance minister (Nirmala Sitharaman) inform – The place is the ‘Baba’? Why cannot his IP deal with be traced? How do you rule out ‘insider buying and selling’? In spite of information, what have been PM-FM-SEBI doing since 2016,” Surjewala requested.

    The source of revenue tax Division searches are aimed to test and collect proof at the fees of monetary irregularities and alleged tax evasion towards the 2, the resources mentioned.

    The premises of Ramkrishna and Subramanian have been raided via officers of the Mumbai investigation wing of the dept early morning.

    The Sebi charged Ramkrishna and others for alleged governance lapses within the appointment of Subramanian as the executive strategic guide and his re-designation as staff running officer and guide to MD.

    Sebi had levied a wonderful of Rs 3 crore on Ramkrishna, Rs 2 crore every at the NSE, Subramanian, former NSE MD and CEO Ravi Narain, and Rs 6 lakh on V R Narasimhan, who used to be the executive regulatory officer and compliance officer.