Chitra Ramkrishna Former MD of NSE has been charged by SEBI for misconduct with IT department conducting raid

According to official sources, the Income Tax department raided the offices of former NSE MD and CEO Chitra Ramkrishna and group operating officer Anand Subramanian in Mumbai on Thursday as part of a tax evasion inquiry.
According to them, the searches are being conducted to check and acquire evidence related to the claims of financial irregularities and alleged tax evasion levelled against the two.
Early in the morning, investigators from the Income Tax Department’s Mumbai investigation wing raided Ramkrishna and Subramanian’s offices.
Ramkrishna made news after a recent Sebi order said that she was guided in the hiring of Anand Subramanian as the exchange’s group operational officer and advisor to the managing director by a yogi living in the Himalayan ranges (MD).

Ramkrishna and others were prosecuted by the Securities and Exchange Board of India (Sebi) for alleged governance failings in the hiring of Subramanian as chief strategy advisor and his subsequent re-designation as group operating officer and advisor to the MD.
Sebi fined Ramkrishna Rs 3 crore, the National Stock Exchange (NSE) Rs 2 crore, Subramanian, former NSE MD and CEO Ravi Narain, and V R Narasimhan, the chief regulatory officer and compliance officer, Rs 6 lakh.
According to the Sebi ruling, Ramkrishna disclosed various internal secret information with the yogi, including NSE’s financial and business objectives, dividend scenario, and financial results, and even advised him on employee performance reviews.

From April 2013 to December 2016, Ramkrishna served as the managing director (MD) and chief executive officer (CEO) of NSE.
In her order, the regulator stated that she refused to identify the identity of the unknown person and claimed that the unknown person was a spiritual force.
Ramkrishna and Subramanian have been barred from associating with any Sebi-registered market infrastructure institution or intermediary for three years, while Narain has been barred for two years.
Ramkrishna’s excess leave encashment of Rs 1.54 crore and delayed bonus of Rs 2.83 crore were also ordered by Sebi to be forfeited by NSE.

NSE was also forbidden from launching any new product for six months by Sebi.
Following the discoveries, the Congress party urged that the government provide a white paper on the NSE’s operation.
“The finance ministry and the prime minister should issue a white paper on the status of the National Stock Exchange and the alarming acts of a ‘invisible Baba’ who was dictating terms to the exchange’s former CEO,” Congress spokesman Gourav Vallabh told reporters two days ago.