CBI arrests former NSE top official Anand Subramanian in 2018 case


Mumbai: The Central Bureau of Investigation (CBI) has arrested former top official of National Stock Exchange (NSE) Anand Subramanian, days after questioning in 2018 case.

The emails exchanged between the NSE’s former CEO Chitra Ramkrishna with a ‘yogi’ living in the Himalayas have gained wide attention in the midst of the investigation. Ramakrishna was questioned for 12 hours by the CBI last week in the ‘tick-by-tick’ manipulation case – that pertains to the unfair dissemination of information from the servers of the exchange to those of the stock brokers.

In 2018, the central probe agency had filed a case against stock broker Sanjay Gupta, owner and promoter of Delhi-based OPG Securities Pvt Ltd, for allegedly making gains by getting early access to the stock market.

“It was alleged that the owner and promoter of said private company abused the server architecture of NSE in conspiracy with unknown officials of NSE. It was also alleged that unknown officials of NSE, Mumbai had provided unfair access to said company using the co-location facility during the period 2010-2012 that enabled it to login first to the exchange server of the stock exchange that helped to get the data before any other broker in the market,” the CBI said in the FIR (first information report).

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