SEBI Didn't Dilute NSE Orders, Acted Per Its Remit: Outgoing Chief Ajay Tyagi

As per a SEBI order dated 11 Feb, ex-CEO Chitra Ramkrishna was running the NSE based on the decisions of a ‘yogi’.

1 min read
Hindi Female

Outgoing SEBI chief Ajay Tyagi said on Wednesday, 2 March, that the market regulator acted as per its understanding in the National Stock Exchange (NSE) case, in which its former CEO and MD Chitra Ramkrishna was running the largest stock exchange based on the decisions of a 'yogi'.

He said, "We came out with orders within our remit and understanding," and denied any 'dilution' of orders in the matter, reported PTI.

After handing over the charges to his successor after a five-year term, Madhabi Puri Buch, he said:

“Till now, all the facts and findings in the public domain are based on SEBI's findings disclosed in its orders, and we should wait for the investigation of other agencies as well.”

SEBI had penalised the NSE, and its former CEOs Chitra Ramkrishna and Ravi Narain, over violations in security contract rules and lapses in the hiring procedure for senior-level appointments.

As per a SEBI order dated 11 February, Chitra Ramkrishna had allowed her decisions to be swayed by a spiritual force.

As a fallout, former CEO Anand Subramanian, who allegedly was an associate of the 'yogi,' had drawn unjustified gains under Ramkrishna's ascendancy.

Tyagi said that the regulator had started investigations under him in the "right earnest” and that SEBI is cooperating with law enforcement agencies on the case.

(With inputs from PTI)

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)


Read Latest News and Breaking News at The Quint, browse for more from news and business

Topics:  NSE   SEBI   Chitra Ramkrishna 

Speaking truth to power requires allies like you.
Become a Member
3 months
12 months
12 months
Check Member Benefits
Read More