CBI arrests Anand Subramanian in NSE manipulation case

The Central Bureau of Investigation CBI has arrested NSE's former group operating officer Anand Subramanian in the alleged irregularities in the stock market manipulation case. He was arrested from his Chennai home on Thursday late at night and being brought to the agency's headquarters in Delhi. He was an advisor to the NSE's MD Chitra Ramkrishna. Look-out circulars were issued against Anand Subramanian, Chitra Ramkrishna, and Ravi Narain as part of the investigation. The CBI is investigating the alleged unfair dissemination of information from the market exchange's computer server to those of stock brokers.
Earlier this month, Market regulator Securities and Exchange Board of India SEBI had slapped a fine of Rs 3 crore on Chitra Ramkrishna for exchanging confidential information over emails with an unknown individual. Anand Subramanian was first appointed as Chief Strategic Adviser in the NSE in 2013 and then promoted as Group Operating Officer in 2015 by then Managing Director Chitra Ramkrishna. In 2016, he left the National Stock Exchange after allegations of irregularities surfaced.