Central Bureau of Investigation (CBI) has arrested Anand Subramanian, former NSE Group Operating Officer (GOO), in connection with alleged irregularities in National Stock Exchange (NSE), officials were quoted as saying by news agency PTI.
A source told IANS that he will be produced before the concerned court. The federal probe agency will seek his custodial remand.
Recently, his statements were recorded over three consecutive days in Chennai.
Earlier on 18 February, the CBI had questioned Chitra Ramkrishna, former CEO and Managing Director of the NSE, for over 12 hours, amid controversy over sharing of confidential information with a 'Himalayan yogi'.
'The crackdown came after the Securities and Exchange Board of India (SEBI) penalised the NSE and Ramakrishna for sharing confidential information with a 'yogi' and allegedly taking his advice on crucial decisions related to the NSE's functioning.
The agency had also issued look out circulars against Ramakrishna, former CEO Ravi Narain and former COO Anand Subramanian, PTI reported.
The 'Yogi' Controversy
The SEBI has penalised the NSE over violations in security contract rules and lapses in the hiring procedure for senior-level appointments.
As per a SEBI order dated 11 February, Ramkrishna had allowed her decisions to be swayed by a "spiritual force" during her tenure. As a fallout, former group operating officer and advisor to the MD, Anand Subramanian, who had allegedly been an associate of the 'yogi,' had drawn unjustified gains during Ramkrishna's tenure.
A fine of Rs 3 crore has been imposed on Ramkrishna, Rs 2 crore each on the NSE and Narain, as well as Rs 6 lakh on VR Narasimhan, who had been serving as the chief regulatory officer and chief compliance officer.
(With inputs from PTI and IANS)
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