Why CBI is not questioning senior officials in Finance Ministry during P Chidambaram’s tenure
The Central Bureau of Investigation (CBI) has filed its charge sheet against former NSE MD and CEO Chitra Ramkrishna and ex-Group Operating Officer Anand Subramanian in connection with its probe into a co-location scam case, officials said Thursday. It is learned that CBI has limited the probe to Chitra Ramkrishna only and has not made accused anyone from Finance Ministry during former Finance Minister P Chidambaram’s regime. CBI has come to the conclusion that the fiction Himalayan Yogi who communicated to Chitra through emails was her subordinate staffer Anand.
It is a billion-dollar question only two accused were found by CBI in the mega stock exchange manipulation scam engineered during former finance minister P Chidambaram’s tenure. CBI only questioned Chitra’s predecessor Ravi Narain and not questioned top officials in the Finance Ministry during the scam period.
Chitra Ramkrishna and Anand Subramanian are both in judicial custody following their arrest by the CBI on March 6 and February 25 respectively. In its charge sheet filed in their Special Court here, the CBI has alleged that Chitra Ramkrishna allegedly abused her official position in key decisions among other charges. The SEBI on February 11 had charged Chitra Ramkrishna and others with alleged governance lapses in the appointment of Anand Subramanian as the chief strategic advisor and his re-designation as group operating officer and advisor to MD.
Chitra Ramkrishna had told the regulator that a formless mysterious “Yogi” was guiding her over emails in taking the decisions. The CBI which expanded its probe in the co-location scam, after the SEBI report surfaced, has arrested both of them and told the court that formless Yogi is none other than Anand Subramanian who was the alleged beneficiary of her decisions. Chitra and Anand taking all the allegations of stock exchange manipulation scam into their shoulder?
Chitra Ramkrishna, who succeeded former CEO Ravi Narain in 2013, had appointed Anand Subramanian as her advisor who was later elevated as group operating officer (GOO) at a fat pay cheque of Rs.4.21 crore annually. Anand Subramanian’s controversial appointment and subsequent elevation, besides crucial decisions, were guided by an unidentified person who Chitra Ramkrishna claimed was a formless mysterious yogi dwelling in the Himalayas, a probe into her email exchanges during the SEBI-ordered audit had shown.
In her statement to SEBI, Chitra Ramkrishna had said that the unknown person having email id rigyajursama@outlook.Com was a ‘Sidha-Purusha or ‘Paramhansa’ who did not have a physical persona and could materialize at will. She got elevated as MD and CEO on April 1, 2013, and left the bourse in 2016. It was during this period that co-location was started by NSE, the CBI said in the charge sheet.
In the dubious co-location facility offered by NSE, brokers could place their servers within the stock exchange premises giving them faster access to the markets. It is alleged that some brokers in connivance with insiders abused the algorithm and the co-location facility to make windfall profits by market manipulation.
But the question is in such a scandalous activity, the probe was only limited to Chitra and Anand? Chitra and Anand taking all the allegations of stock exchange manipulation scam into their shoulder? Why CBI not questioned senior officials in Finance Ministry during former Finance Minister P Chidambaram’s tenure, when the stock exchange manipulation co-location scam happened?
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