Former NSE group COO, Anand Subramanian, has been arrested in Chennai in connection with a ‘co-location’ scam that had been registered against him in the year 2018. Chitra Ramakrishna and Ravi Narain have also been questioned about the same.
Why is Anand Subramanian arrested, and what is the original case about?
As per the investigating officials of the CBI, a case was registered against the three of them in the year 2018.
Subramanian had been on the radar of suspicion as the ‘faceless yogi’ of the CBI since the reports of NSE emerged. It’s being said that the decisions taken by Chitra Ramakrishna were influenced by Subramanian as his name emerged as the ‘faceless yogi’.
Subramanian was appointed as the Chief Strategic Officer in 2013 and later got appointed as the ‘Group Operating Officer’ in 2015.
It was found that the appointment of Anand Subramanian was made under the influence of a yogi by Chitra Ramakrishna. Later, some screenshots, evidence, and emails were also found that confirmed the same.
The investigating officers have got a strong suspicion against Anand that it was him who had created a fake email ID — rigyajursama@outlook.com — through which Chitra Ramakrishna was in touch with him. He disguised himself as a ‘yogi.’ According to the investigations so far, Chitra Ramakrishna was found using the email address ‘rchitra@icloud.com’ to share confidential information related to the NSE with him using that email address. The sharing of the information happened between the years 2013 and 2016. Chitra was under his influence and would often seek his “advice” on several matters, which included appointments too. It is to be noted that his appointment as the COO also happened during this period.
The CBI arrested him on Friday in Chennai, and he was brought before the court. The court has allowed his custody till 6 March 2022, and all the evidence, screenshots, and emails collected against him would be the point of investigation. He would be investigated and confronted for the same, as per the officials.
In the investigation carried out by the CBI, the investigating officers came across a large amount of data and scanned it for information. It was revealed that some of the emails that Chitra Ramakrishna sent to the ‘yogi’ were forwarded to one of Subramanian’s IDs.
It’s being suspected that Subramanian had forwarded those emails to himself so as to keep a record. During the investigation, some screenshots were also found that confirmed the conversation between the ‘faceless yogi and Chitra Ramakrishna.’
CBI’s case
A case was being registered by the CBI in relation to the ‘co-location scam’ of 2018 in which Chitra Ramakrishna, Anand Subramanian, and Ravi Narain have been arrested. The CBI’s FIR report has been expanded in this case, and Anand Subramanian is under the radar. So far, he has denied all the allegations against him.
SEBI’s report
SEBI has also raised questions about Subramanian’s appointment in their reports and is suspicious about the ‘frequent hikes in his salary’. Chitra Ramakrishna and others have been charged by SEBI with alleged governance lapses in the appointment of Subramanian.
Ramakrishna and Subramanian have been fined Rs 2 crore each for the fraud.
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