it department raids premises of ex-nse md chitra ramkrishna

The Income-Tax Department on Thursday conducted searches on the premises of former NSE chief executive officer and managing director Chitra Ramakrishna on suspicion of tax evasion.

The searches were carried out by the agency’s Mumbai unit after the Securities and Exchange Board of India (SEBI) on February 11 levied penalties on the NSE, Ms. Ramakrishna and others for violating rules while appointing Anand Subramanian as the group operating officer and advisor to the then managing director of the exchange.

SEBI also found that Ms. Ramkrishna shared various internal information of the NSE with an unknown yogi. It was alleged that she also consulted the unknown person on email for the appraisal of employee performance and Mr. Subramanian got substantial increments in quick succession.

In January 2013, Mr. Subramanian was offered ₹1.68 crore for the post of chief strategic advisor in the exchange, while his last drawn salary was ₹15 lakh in a government corporation. His cost-to-company shot up to ₹5 crore by 2015.

Ms. Ramkrishna resigned from NSE in 2016, following which she was given ₹44 crore as pending dues and salary, as per reports.


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