NSE Scam: CBI Begins Probe, Conducts Search Operations In Several Cities

The Central Bureau of Investigation (CBI) has started investigation into the NSE scam here on Saturday. The premier investigating agency began a coordinated search operation covering more than 10 locations in several cities pertaining to the National Stock Exchange (NSE) co-location scam case, said officials, according to PTI. CBI's search operation will cover brokers of over 12 premises in Gandhinagar, Delhi, Gurugram, Mumbai, and Kolkata, among others, added the officials.

As per the officials, the CBI has already filed a chargesheet against Group Operating Officer Anand Subramanian and former NSE CEO and MD Chitra Ramkrishna in NSE scam.

It is important to note that CBI has till now established that one of the accused in the FIR namely Ramakrishna had connected to the secondary POP server on 670 trading days in the segment of "Futures and Options" when she handling the affairs of NSE, OPG Securities.

According to PTI, the central probe agency has decided to keep the investigation open into the accusation of preferential access granted to some brokers by NSE officials and undue gains made out of it during the period of Subramanian and Ramkrishna.
Earlier, Ramakrishna has succeeded former CEO Ravi Narain in 2013 and appointed Subramanian as her advisor.

Later, Subramanian was elevated as the Group Operating Officer at a pay cheque of Rs 4.21 crore annually, added officials.

Meanwhile, Subramanian's contentious appointment and further promotion apart from key decisions, were guided by an unknown person, who Ramakrishna claimed was a formless mysterious yogi dwelling in the Himalayas, a probe into her e-mail exchanges during a SEBI-ordered audit has revealed, according to PTI.

Earlier, the Delhi High Court has demanded CBI's reply on Ramakrishna's bail plea in connection with the co-location case. Justice Sudhir Kumar Jain had issued notice on the bail plea and listed the case for further hearing on May 31.