Anand Subramanian, National Stock Exchange’s former Group Operating Officer (GOO) is not cooperating with Central Bureau of Investigation (CBI), which is probing the NSE co-location scam, CNBC-TV18 reported on Friday.
Subramanian was arrested on Thursday, he is the first arrest by the agency in the NSE case
Anand Subramanian, National Stock Exchange’s former Group Operating Officer (GOO) is not cooperating with Central Bureau of Investigation (CBI), which is probing the NSE co-location scam, CNBC-TV18 reported on Friday.
Subramanian was arrested on Thursday, he is the first arrest by the agency in the NSE case.
Subramanian is not cooperating and refused to share his login credentials, claiming that it's been too long so he doesn't remember the login id and password, CNBC-TV18 reported citing CBI sources.
Along with co-location-related irregularities, CBI is also investigating the hiring and promotion of Anand Subramanian in NSE.
In its order recently, the Securities and Exchange Board of India (Sebi) said, Chitra Ramakrishna, the former Managing Director and Chief Executive Officer of the National Stock Exchange (NSE), was influenced by an unknown "yogi" in the appointment of Anand Subramanian as NSE's group operating officer and advisor to the managing director.
In the 190-page order, Sebi added she leaked key business secrets pertaining to day-to-day operations.
Sebi got the whiff of the irregularities while it was investigating NSE's co-locating controversy in which it was alleged that certain brokers had received preferential treatment and some officials of the NSE were hand in glove with them.
Last week, CBI questioned Ramakrisha in connection with the co-location scam.