CBI has asked the special court to dismiss bail application of former MD and CEO Chitra Ramakrishna saying she might abscond if she is released on bail.In an eighteen page rebuttal to Chitra Ramakrishna bail plea, the federal probe agency has said, “the applicant may frustrate the investigation and abscond in order to avoid the legal process. Chitra is highly influential and may tamper with documentary, digital evidence and manipulate with witnesses”.
Calling Anand Subramanian appointment at the NSE as part of conspiracy, the CBI said, “NSE board was kept in the dark regarding Anand Subramanian being a consultant”. The CBI also levelled a serious allegation that when the SEBI was seeking replies from NSE officials Chitra exerted her influence on them.
“Investigation has revealed that Chitra had misused her official position and exercised undue influence on officials of NSE to manipulate the replies sent to queries of SEBI and the secretarial auditor. This shows that the accused has no respect for the legal process and can go to any extent to frustrate the investigation,” said the CBI in its reply to the court.
While claiming that no one at the NSE was aware of Anand Subramanian appointment and steady rise at the NSE, the CBI is silent on why the board of directors at the stock exchange never raised this issue. “Appointing Anand Subramanian an inexperienced person illegally was decision of Chitra to serve her own interests. The manner in which Anand Subramanian was illegally and arbitrarily appointed and delegated substantial powers to run the exchange bypassing the NRC (Nomination and Remuneration Committee) and the board. His role in postings of officials at sensitive positions reveal a well knit conspiracy which is a vital aspect in the entire set of allegations,” said the CBI.
During the course of investigation the CBI found that Anand Subramanian in conspiracy with Chitra Ramakrishna posted “their favourable officials” who were manning co-location facility. CBI also said Chitra neither brought the issue of Anand’s re-designation as group operating officer at NSE nor his revised salary package before the NRC.
“Chitra did not bring the matter of re-designation of Anand Subramanian as group operating officer and his remuneration before NRC or Board of NSE thus granting him huge financial benefits. Investigation revealed that the applicant Chitra Ramakrishna through Anand Subramanian (who was supervising HR Head) posted her favourable officials at critical positions in NSE including those manning co-location facility,” said the CBI.
