NSE Scam
NSE Scam: CBI yet to find the identity of mystery Yogi
Mumbai/IBNS: The identity of the Himalayan Yogi, who advised former National Stock Exchange (NSE) chief executive Chitra Ramkrishna for years, still remains a mystery as the Central Bureau of Investigation (CBI) has failed to make a breakthrough.
The Central investigative agency is focusing on the investigation of the 2018 case in which it has been alleged that some brokers, in connivance with insiders, abused the algorithm and the co-location facility to make windfall profits.
In the co-location facility offered by NSE, brokers could place their servers within the stock exchange premises, giving them faster access to markets.
On February 11, SEBI issued an order that pointed out the lapses at the exchange and said Ramkrishna was "merely a puppet" of a person she described as a yogi.
In 2015, the irregularities in NSE's colocation system were brought to the notice of the SEBI by a whistleblower in a letter where it was detailed how some brokers had exploited those flaws in collusion with some employees of the NSE.
Anand Subramanian was the chief strategic advisor from April 1, 2013 before he was re-designated from April 1, 2015 until October 21, 2016.
Chitra was appointed as MD and CEO of the National Stock Exchange on April 1, 2013.
CBI arrested has arrested Anand Subramanian on February 26 while Chitra was arrested in the case on March 6, 2022, when her anticipatory bail application was dismissed by the court, alleging that the electronic devices recovered were being analysed and would be used for conducting the further examination.
The CBI strongly believes that while Subramanian may have created the Yogi email ID, he was not the one operating it, one of the persons cited above said.
In a letter to SEBI in 2018, former NSE chairman Ashok Chawla said the yogi is none other than Anand Subramanian.
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