Chitra Ramakrishna, the former MD and CEO of NSE, appointed Anand Subramaniam as Group Operating Officer of the exchange and MD as an advisor on the words of 'a yogi living in the Himalayas'. This has been told in an order of market regulator SEBI. It has been told in the SEBI order that Ramakrishna has given Subramaniam salary hikes arbitrarily many times, while there is no evidence of evaluation of her performance.
These things came to light in an order passed on Friday. The regulator has passed an order against Ramakrishna and others. According to the order, Ramakrishna shared some of NSE's financial and business plans, dividend related matters, financial results and some other confidential information with Yogi. Not only this, she also held discussions with Yogi about the appointment of NSE employees.
Ramakrishna refers to the yogi as "Sironmani" and for the past 20 years, she has been taking decisions on all kinds of personal and professional matters on the basis of her side. Ramakrishna was the managing director and CEO of NSE between April 2013 and December 2016. Sebi, in its 190-page order, said that Ramakrishna appointed Subramanian when Yogi spoke, which is why Subramanian was given too many powers. Subramanian had received an offer to join NSE as chief strategy advisor in April 2013. She was offered an annual package of Rs 1.68 crore.
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