NSE Scam Anand Subramaniam (Himalayan Yogi) Explained Full | Pdf – The Central Bureau of Investigation (CBI) has arrested Anand Subramaniam in connection with alleged irregularities in the National Stock Exchange (NSE). He was the former CEO of NSE and Chief Strategy Officer (CSO) to Chitra Ramakrishna, MD. It is believed that the yogi of the Himalayas to whom Chitra had asked for advice was Subramaniam.

NSE Scam Anand Subramanian ( Himalayan Yogi ) Full Explained | Pdf

SEBI had started the investigation in the matter regarding the irregularities in the appointment of Anand Subramaniam, after which such a big matter has come to the fore. During this, the name of a Himalayan yogi also came up. It is now being claimed that Anand used to send emails posing as a yogi of the Himalayas.

 

NSE scam: Anand Subramaniam, Chitra Ramakrishna and unnamed gurus of the Himalayas

 

  • The case pertains to NSE CEO Chitra Ramakrishna, Chief Strategic Advisor Anand Subramaniam and Chitra’s unnamed guru of the Himalayas.
  • The disturbances of these three have reduced the credibility of NSE but also shaken the confidence of the people.
  • This case is interesting because the yogi mentioned here turns out to be the villain and the architect of the story.
  • This yogi kept fooling Chitra for years and got her to do things according to her mind.
  • Yogi appointed Subramaniam through his instructions, got promotions one after the other and got an incalculable increase in salary.
  • Chitra Ramakrishna was so engrossed in the blind devotion of this yogi that she blindly followed his every instruction.
  • The biggest advantage I got from all this was Anand Subramaniam.

    NSE Scam : Who Is Himalayan Yogi In SEBI Scam ?

    • During the SEBI scam investigation, the name of a Himalayan yogi also cropped up on whose behest Chitra had committed all the mistakes.
    • The biggest twist of the story is that the yogi who created this whole incident turned out to be Subramaniam.
    • Yes, Anand Subramaniam was the only person who was the author of this scandal and was benefiting himself by becoming a yogi himself.
    • The CBI has revealed in its investigation that Subramaniam is in fact an unnamed yogi whom Chitra blindly trusted and obeyed his every order without hesitation.
    • On the orders of Yogi, Chitra had also created a special post for Subramaniam.
    • Chitra is accused of taking many such decisions while in office between 2013 and 2016, which were not considered to be related to the interest of the stock market.
    • One of the decisions was the appointment of Anand Subramaniam, for which Chitra created an officer-level position in the NSE.
    • Not only this, Chitra promoted Anand Subramaniam every time during his tenure and also gave a salary of crores.

    Chitra Ramakrishana NSE CEO Tenure :

    • Chitra Ramakrishna was the CEO and MD of the National Stock Exchange (NSE) from 2013 to 2016.
    • She was associated with NSE since its inception in 1990.
    • He was appointed as the Joint Managing Director of NSE in 2009.
    • He was given the CEOship in 2013. In 2016, he was expelled from NSE after his name was misused and his name was linked to a scam.
    • During interrogation, SEBI asked Chitra Ramakrishna to share confidential information of NSE outside, he said that the email id created by the name Rigyajursama belonged to a Siddha Purush Yogi, who has been roaming in the Himalayas for years.
    • He said that the yogis who write emails have spiritual power.
    • For the last 20 years, they have been showing them the way and they will come out of their own free will.

    What Is SEBI ? It Power And Functions :

    About this

    • SEBI is a statutory body established on 12th April 1992 in accordance with the provisions of the Securities and
    • Exchange Board of India Act, 1992.
    • The basic function of the Securities and Exchange Board of India is to protect the interests of investors in securities and to promote and regulate the securities market.

    Background :

    • Before SEBI came into existence, the controlling authority for capital issues was the regulatory authority; It derived its authority from the Capital Issues (Control) Act, 1947.
    • SEBI was formed in April, 1988 under a resolution of the Government of India as the regulator of capital markets in India.
    • Initially SEBI was a non-statutory body without any statutory power.
    • It became autonomous and was granted statutory powers by the SEBI Act 1992.
    • The headquarter of SEBI is located in Mumbai. SEBI’s regional offices are located at Ahmedabad, Kolkata, Chennai and Delhi.

    Structure :

    • The SEBI Board consists of a Chairman and several other full-time and part-time members.
    • SEBI also appoints various committees as and when required to look into the pressing issues of that time.
    • In addition, a Securities Appellate Tribunal (SAT) has been constituted to protect the interests of entities aggrieved by the SEBI’s decision.
    • The SAT consists of a presiding officer and two other members.
    • It has the same powers as are vested in a civil court. Further, if a person feels aggrieved by the decision or order of SAT,
    • he can appeal to the Supreme Court.

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    Powers and Functions of SEBI

    • SEBI is a quasi-legislative and quasi-judicial body that can draft rules, conduct inquiries, pass judgments and impose penalties.
    • It serves to meet the requirements of three categories –
    • Issuers – By providing a market in which issuers can expand their finances.
    • Investors – by ensuring the security and supply of accurate and accurate information.
    • Intermediaries – By enabling a competitive professional market for intermediaries.
    • By the Securities Laws (Amendment) Act, 2014, SEBI is now able to regulate any money pooling scheme of Rs. 100 crore or more and attach assets in cases of non-compliance.
    • SEBI Chairman has the power to order “Search and Seizure Actions”. SEBI Board may also call for information such as telephone call data records from any person or entities in respect of any securities transaction being examined by it.
    • SEBI deals with the registration and regulation of working of collective investment schemes including venture capital funds and mutual funds.
    • It also works to promote and regulate self-regulatory organizations and to prevent fraud and unfair trade practices related to securities markets.

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