Fake Yogi duped the CEO of NSE… bro what? 🎥

Fake Yogi duped the CEO of NSE… bro what? 🎥

What happened — the income tax department raided the house of the ex-CEO of the National Stock Exchange Chitra Ramakrishna, as well as the group’s COO Anand Subramanian, trying to uncover illicit gains and evidence of financial favors.

Some backstory — the ex-CEO of the NSE, Ms. Chitra Ramakrishna, is under the lens for apparently allowing a faceless “yogi” to dictate terms to her on how to run the Stock Exchange while she was CEO — all over freaking email.

Between 2013 to 2016ish, when Ms. Ramakrishna ran shop, SEBI is alleging she routinely shared private info (financials, strategic plans, and other stuff) with a counsel over email asking for guidance. Here’s where it gets silly — apparently the “Himalayan yogi”, among the countless suvichars he shared, got Ms. Ramakrishna to hire a low-key professional with no experience and bring him up to the Chief Strategy Officer position of NSE. TF?

Worse? Authorities believe the CSO himself was the faceless-Yogi — manipulating Ms. Ramakrishna to his own gain, which indicates serious lapses in governance and raises far fetching questions on her ability to lead. Press is digesting the fiasco, investigations are on — and every division from the CBI to Income Tax is scouring the works. The Print has a remarkable story on how it all unfolds.

Not the first rodeofyi, this ain’t the first time Ms. Ramakrishna found herself on the wrong side of a trade. In 2017, she was forced to resign after media found out about the NSE was sharing market-data with some traders before giving it to the rest of the market.

What now — for the latest fiasco, SEBI is slapping a ₹3 crore on Ramakrishna, ₹2 crore each on the NS, Anand Subramanian, and a few other executives. NSE will also be barred from launching any new products for the next 6 months. Like a script written for the makers of Scam 1992.