sebi:WTM/AB/MRD/DSA/21/2021-22
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Provisions invoked
- s. 11B
- s. 11A
- s. 11
- s. 11(4)
- s. 19
- s. 11(1)
- s. 12A
- s. 12
- s. 11(2)
- s. 15H
- s. 15J
- s. 15
- s. 11C
- s. 15F
- s. 23A
- s. 23
- s. 23H
- s. 23J
- s. 15T
- s. 2(51)
Regulations
- Reg. 25
- Reg. 26(1)
- Reg. 2
- Reg. 27
- Reg. 23
- Reg. 20
- Reg. 201
- Reg. 32
- Reg. 52(2)
- Reg. 26(2)
- Reg. 111
- Reg. 49
- Reg. 2(i)
- Reg. 52(1)
- Reg. 2(1)(i)
- Reg. 111(1)
- Reg. 25(5)
- Reg. 25(1)
- Reg. 32(2)
- Reg. 27(3)
Parties
- Ms. Chitra Ramkrishna
- National Stock Exchange of India Limited
- J Ravichandran
- Anand Subramanian
Holding
SEBI rejects the preliminary objections on jurisdiction, nature of directions and delay and holds it can proceed against former MD/KMPs for governance violations at NSE relating to appointment of Noticee no. 6 and sharing of confidential information.
Full text
Final Order against Ms.Chitra Ramkrishna and others Page 2 of 190 Board of India (hereinafter referred to as “SEBI”) to aforesaid Noticees. As all these SCNs have been issued in relation to the governance issues at National Stock Exchange of India Limited (hereinafter also referred to as “NSE”/ “Noticee no. 2”) therefore all these actions are being dealt together in this order. The details of the SCNs are tabulated below:
Final Order against Ms.Chitra Ramkrishna and others Page 3 of 190 Brief Background: 2. In order to better understand the background of the case and for the purposes of this
Final Order against Ms.Chitra Ramkrishna and others Page 4 of 190 (iv) Current MD, Ms. Chitra Ramkrishna (Noticee no. 1), has brought in Subramanian Anand (Noticee no. 6) as Chief Operation Officer into NSE. Subramanian Anand has worked in Balmer and Lawrie in a middle level management with zero exposure to capital markets. His cost to company is not less than 5 Crores. Ms. Chitra is totally dependent on Subramanian Anand and does not do anything without his consultation.
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Source: SecMarx — sebi:WTM/AB/MRD/DSA/21/2021-22. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.