NSE co-location scam: Anand Subramaniam’s bail plea rejected, was arrested last month

Delhi’s Rouse Avenue Court on Thursday rejected the bail plea of ​​Anand Subramaniam, former group operating officer of the National Stock Exchange and former advisor to Managing Director Chitra Ramakrishna. The CBI had arrested Subramaniam from Chennai last month in the NSE co-location scam.

In this whole case, Anand is accused that he was controlling Chitra Ramakrishna. On the other hand, Chitra Ramakrishna is accused of giving very important and confidential information of stock exchange to Anand. Chitra has also been arrested for questioning.

Anand Subramaniam was appointed at the behest of Baba

Market regulator SEBI had accused Chitra Ramakrishna of taking decisions at the behest of an unknown baba from the Himalayas. Not only this, it was on Baba’s advice that he appointed Anand Subramaniam as an advisor to the Group Operating Officer and Managing Director of the Exchange.
Anand Subramaniam was advising Chitra Ramakrishna for 20 years.

After the arrest of Anand Subramaniam, it was revealed during interrogation that the yogi who advised Chitra Ramakrishna from the Himalayas was none other than Anand Subramaniam himself. According to reports, Chitra Ramakrishna used to call a yogi (Anand Subramaniam) living in the Himalayas as ‘Shiromani’. Anand Subramaniam had been advising Chitra on personal and professional matters for the last 20 years.

Anand left NSE after allegations in 2016

Anand Subramaniam was first appointed as Chief Strategic Advisor to the National Stock Exchange (NSE) in 2013. After this, MD Chitra Ramakrishna promoted him as the Group Operating Officer of NSE in 2015. Anand left the National Stock Exchange in 2016 after being accused of irregularities.

Giving access to co-location facility led to scam

Selected brokers were unfairly benefited in the NSE co-location scam. Its investigation revealed that it was given access to co-location facilities to benefit a brokerage firm named OPG Securities. The brokers present in this facility get all the data much earlier than the rest.

Crores of rupees were misappropriated

CBI believes that crores of rupees were manipulated in NSE. This scam started at the same time when Chitra was very close to being promoted to number two status and becoming number one. The scam continued even after Chitra became CEO and Anand had become his closest associate. CBI is looking for the connection of that unknown yogi in this case, on whose behest Chitra was taking all the decisions of NSE.

Anand got more than 9 times package in NSE

After a recent order of SEBI, the information about this whole matter came out in the open. In 2013, NSE CEO and MD Chitra Ramakrishna hired Anand Subramaniam as the Chief Strategy Officer (COO), as per a SEBI order.

Anand Subramaniam was doing a job of Rs 15 lakh before joining NSE. In NSE, he was given a package of Rs 1.38 crore, increasing more than 9 times. After this he got frequent promotions and he became Group Operating Officer (GOO) in no time.