NSE Scam: Former SEBI chief said - people exposed in the investigation should be thrown out of NSE, the powers of management should be reconsidered

NSE Scam: Former SEBI chief said – people exposed in the investigation should be thrown out of NSE, the powers of management should be reconsidered

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new Delhi. In the NSE scam case, former SEBI chief M Damodaran says that the people whose names have come up in the investigation of the market regulator in the case of Himalaya Baba will be sent to the National Stock Exchange. Exchange) should be excluded. Along with this, the powers given to the officers of the Exchange should also be reconsidered.

The former SEBI chief said that NSE should strictly consider all those names in the order of the regulator and throw them out. The regulator should ensure adequate checks and balances so that such situations do not arise again in the future.

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violation of rules
SEBI, in its order dated February 15, had said that a case of strange misconduct has come to the fore in the NSE, which is a violation of the rules. The regulator claimed that Chitra Ramakrishna, who headed the NSE from 2013 to 2016, shared several other information, including market financial projections, business plans and the board’s agenda, with an alleged spiritual leader from the Himalayas.

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It is necessary to investigate such a big mistake
Damodaran said that I do not know who Yogi is. But, NSE should investigate how such a big mistake happened. It is beyond comprehension how the NSE management got so much and such exemption that they shared confidential information with outsiders.

Question on the role of Anand
Damodaran has also questioned the role of Anand Subramaniam, who was a mid-level manager at Balmer and Lawrie and earned Rs 15 lakh a year. After coming to NSE, he was given a package of Rs 1.68 crore. He said that everyone knew what was happening, but no one thought it appropriate to challenge it. No one questioned Subramaniam’s extraordinary power.

Tags: SEBI

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