The agency has accused Ramkrishna of abusing her position in facilitating exploitation of the exchange’s server architecture. The probe has revealed that unfair and preferential access to NSE’s servers allegedly were provided to certain entities under the co-location set-up, sources said. Both accused are in jail since their arrest on March 6 and February 25 respectively.
The investigation has also revealed that both Ramkrishna and Subramanian derived personal benefits out of the ” co-location” scam. The probe is still on and supplementary chargesheets will be filed in the coming weeks, sources said.
Ramkrishna, who succeeded former CEO Ravi Na-rain in 2013, had appointed Subramanian as her advisor and later elevated him to the post of group operating officer with a salary of Rs 4. 2 crore per annum.
This appointment along with other significant decisions, Ramkrishna said, were allegedly guided by an unidentified person who she claimed was a formless mysterious yogi dwelling in the Himalayas. This was corroborated in the technical investigations into her email exchanges.
Ramakrishna was interacting with this Yogi, now identified to be Subarmanian, who used an email ID rigyajursama@outlook. com. CBI has alleged that the “co-location” was started by NSE during Ramakrishna’s tenure. In this facility, brokers could place their servers within the stock exchange premises giving them faster access to the markets. Several brokers connived with insiders and abused the algorithm to make windfall gains. NSE scam: CBI charges ex-MD, ‘Himalayan yogi’