The Income Tax Department on Thursday searched the premises of former MD and CEO of National Stock Exchange (NSE) Chitra Ramkrishna and group operating officer Anand Subramanian in Mumbai as part of a tax evasion investigation against them.
Official sources said the searches are aimed to check and gather evidence on the charges of alleged financial irregularities and tax evasion against the duo.
The Mumbai investigation wing of the Income Tax Department searched the premises of Ramkrishna and Subramanian.
Earlier, Ramkrishna hit the headlines after a recent Securities and Exchange Board of India SEBI order said she was steered by a yogi, dwelling in the Himalayan ranges, in the appointment of Anand Subramanian as the exchange’s group operating officer and adviser to the managing director (MD).
The SEBI charged Ramkrishna and others for alleged lapses in the appointment of Subramanian as the chief strategic adviser and his subsequent re-designation as group operating officer and adviser to the MD.
The SEBI slapped a fine of Rs 3 crore on Ramkrishna, Rs 2 crore each on the National Stock Exchange (NSE), Subramanian, former NSE MD and CEO Ravi Narain, and Rs 6 lakh on V R Narasimhan, who was the chief regulatory officer and compliance officer.
Ramkrishna shared certain internal confidential information, including financial and business plans of NSE, dividend scenario, and financial results, with the “yogi” and even consulted him over the performance appraisals of the exchange’s employees, according to the SEBI order.
Ramkrishna was the MD and CEO of NSE from April 2013 to December 2016.
She refused to reveal the identity of the unknown person and sought to claim that the unknown person is a spiritual force, the SEBI noted.