Action!  Income tax raids against the former head of NSE, while in office, there was a lot of arbitrariness

Action! Income tax raids against the former head of NSE, while in office, there was a lot of arbitrariness

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new Delhi. The Income Tax Department has started a major action against Chitra Ramakrishna, the former head of the National Stock Exchange (NSE). While in the post, Chitra had done a lot of arbitrariness in recruitments and other works.

On February 17, the Income Tax Department raided Chitra’s residence in Mumbai and searched for several hours. SEBI also took major action against Chitra, who was the Managing Director (MD) of NSE. Markets regulator SEBI on February 11 imposed a fine on Chitra and also banned the NSE from launching new products for six months.

Also read – 75 thousand crore tax dues on LIC, what will be the effect on IPO if not paid?

Himalaya Baba used to give secret information
The SEBI investigation revealed that before leaving her post in December 2016, Chitra used to share many secret information of NSE through email with an unknown person. This mail was in the name of a Himalaya Baba. According to SEBI, they used to share secret information about the organization’s structure, dividend scenario, financial results and HR policy. This cycle lasted from 2014 to 2014.

Also read – Government and LIC will sell stake in this bank by doing ‘roadshow’ before IPO, the bank will go into private hands

3 crore was fined
SEBI had imposed a fine of Rs 3 crore against Chitra for irregularities in the appointment of senior officer Anand Subramanian. When the matter opened, Chitra said that she had appointed Anand on the advice of a yogi living in the Himalayas. Anand was the Chief Strategic Advisor of NSE from 1 April 2013 and was later made the Group Operating Officer.

Tags: income tax department, income tax raid, NSE

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