CBI arrests Anand Subramanian in NSE irregularity case

The Central Bureau of Investigation (CBI) has arrested former Group Operating Officer of the National Stock Exchange (NSE) Anand Subramanian in the case pertaining to irregularities in the exchange during his tenure.

Subramanian had been on the agency radar in the 2015 NSE co-location scam case in which some of the traders were allegedly provided preferential access to trade data.

Ahead of the arrest, CBI questioned Subramanian thrice after the SEBI report on NSE irregularities came to the fore earlier this month. After the questioning, Subramanian was asked not to leave the country and remain prepared for further summons.

The agency, which had been investigating the matter since 2017, revved up the probe when SEBI report on the case said earlier this month that former MD of NSE, Chitra Ramkrishna, was running the affairs of the exchange at the behest of a mystery Himalayan Yogi.

Subramanian is considered close to Ramkrishna and was allegedly appointed to the post by her on a hefty salary in contravention to the rules. Ramkrishna too has been questioned by the CBI on the matter.

The income tax department has also conducted searches at the premises of Ramkrishna and Subramanian.