26 July 2024
Chitra Ramkrishna, the former CEO and MD of NSE, India’s largest stock exchange with a combined market capitalisation of close to $4 trillion, was guided by a yogi residing in the Himalayas for the appointment of Anand Subramanian, little-known in the industry, as the exchange’s chief operating officer (COO) in 2013. The appointment cost NSE ₹5 crore.
As per BusinessLine, Ramkrishna was ousted from NSE in 2016 for her role in the co-location and algo trading scam and abuse of power in the appointment of Subramanian. The probe found that Ramkrishna ran NSE with impunity. No one from the senior management, board, or the promoters — which include big government institutions and banks — ever objected to her ways. Instead, Ramkrishna was given ₹44 crore as pending dues and salary when she left NSE.