#Chitra Ramakrishna

[best2daynews]

NSE board nod for CBI action on former MDs Ravi Narain & Chitra Ramakrishna - Times of India

MUMBAI: The board of the country’s largest stock exchange NSE has given its nod to the CBI to prosecute two of its former MDs – Ravi Narain and Chitra Ramakrishna – relating to their role in misuse of the bourse’s trading mechanism. The NSE, headed by retired bureaucrat GC Chaturvedi, gave the approval after obtaining legal opinion during last week’s board meeting, sources said. The CBI had asked…

[harpianews]

NSE scandal: Former MD Chitra Ramkrishna arrested

NSE scandal: Former MD Chitra Ramkrishna arrested

CBI on Sunday arrested Chitra Ramakrishna, former CEO and MD of National Stock Exchange (NSE), in a 2018 case of bourse manipulation. This is the second high-profile arrest in the case, with the agency last month arresting Anand Subramanian, NSE’s former group operating officer and Ramkrishna’s deputy and confidante. “Ramkrishna has been arrested following questioning and will be produced in a…

[trustednewstribune]

NSE Scam Case: Probe Agency CBI Carries Out Multi-City Search Operations

The central probe agency has filed a charge-sheet against former National Stock Exchange (NSE) CEO and MD Chitra Ramkrishna and group operating officer Anand Subramanian in the case, the officials said.

The Central Bureau of Investigation or CBI launched a coordinated search operation at over 10 locations in multiple cities today in connection with the NSE co-location scam case, officials said.

The search operation will cover brokers at more than 12 premises in Mumbai, Gandhinagar, Delhi, Noida, Gurugram and Kolkata, among other cities, they added.

The central probe agency has filed a charge-sheet against former National Stock Exchange (NSE) CEO and MD Chitra Ramkrishna and group operating officer Anand Subramanian in the case, the officials said.

The probe has so far established that from 2010 to 2015, when Ms Ramkrishna was managing the affairs of the NSE, OPG Securities, one of the accused in the FIR, had connected to the secondary POP server on 670 trading days in the “Futures and Options” segment.

The CBI has kept the probe open into allegations of preferential access granted to certain brokers by NSE officials and undue gains made out of it during the tenure of Ms Ramkrishna and Mr Subramanian.

Ms Ramkrishna, who succeeded former CEO Ravi Narain in 2013, had appointed Mr Subramanian as her adviser, who was later elevated as the group operating officer (GOO) at a fat pay cheque of ₹ 4.21 crore annually, the officials said.

Mr Subramanian’s controversial appointment and subsequent elevation, besides crucial decisions, were guided by an unidentified person, who Ms Ramkrishna claimed was a formless mysterious “yogi” (mystic) dwelling in the Himalayas, a probe into her e-mail exchanges during a SEBI-ordered audit had shown.

The central probe agency had booked stock broker Sanjay Gupta, the owner and promoter of Delhi-based OPG Securities Private Limited, in 2018 for allegedly making gains by getting early access to the stock market trading system, the officials said.

The agency is also probing unidentified officials of the Securities and Exchange Board of India (SEBI), NSE, Mumbai and other unidentified people.

“It was alleged that the owner and promoter of the said private company abused the server architecture of the NSE in a conspiracy with unidentified officials of the NSE.

“It was also alleged that unidentified officials of NSE, Mumbai had provided unfair access to the said company using the co-location facility during the period 2010–2012 that enabled it to log in first to the exchange server of the stock exchange that helped to get the data before any other broker in the market,” the CBI has alleged in the FIR.

[sivavakkiyar]

“Glow” as a replacement for “fair” is also really funny because when I was growing up a kind of easy workaround to “why do all the sages & heroes in Amar Chitra Katha look like they’re white amma?” was “that’s just how they’re drawn, to symbolize their glowing radiant attainment”

kind of a pair to the other standard ala Ramakrishna: “Do not call Mother Kali black, for she is not merely dark skinned, but depicted as such to show that she is the Cosmos” blah blah

[squarwell-breakingnews]

ED files charge sheet against ex-NSE chief Chitra Ramakrishna, others in phone tapping case - Times of India

ED files charge sheet against ex-NSE chief Chitra Ramakrishna, others in phone tapping case – Times of India

NEW DELHI: The Enforcement Directorate Friday filed its charge sheet before Delhi court against former NSE chief Chitra Ramakrishna, its ex-MD Ravi Narain, and former Mumbai Police Commissioner Sanjay Pandey in a money laundering case related to alleged illegal phone tapping and snooping on stock exchange employees. The document running into over 2,000 pages was filed before Special Judge Sunena…

[new-haryanvi-ragni]

Delhi Court extends 4 days remand of ex NSE CEO Chitra Ramakrishna in a money laundering case

Delhi Court extends 4 days remand of ex NSE CEO Chitra Ramakrishna in a money laundering case

The Enforcement Directorate (ED) had on last Friday summoned former Mumbai Police Commissioner Sanjay Pandey in connection with a prevention of money laundering case related to the phone tapping of National Stock Exchanges (NSE) employees between 2009 and 2017. On Thursday, the ED got a four-day custodial remand of Ramkrishna. source…

[amn-group]

Former NSE CEO Chitra Ramakrishna was arrested, ED gets 4-day remand: Illegal phone tapping. The Enforcement Directorate (ED)

[harpianews]

CBI arrests Anand Subramanian, ex-top official of NSE and advisor to Chitra Ramkrishna

CBI arrests Anand Subramanian, ex-top official of NSE and advisor to Chitra Ramkrishna

Former group operating officer (GOO) of the National Stock Exchange (NSE) Anand Subramanian has been arrested by the Central Bureau of Investigation (CBI) in connection with its probe into a 2018 case of manipulation of the bourse. “Subramanian was arrested by a team of officials in Chennai late on Thursday night. He will be produced in a competent court today,” a CBI official said. CBI had…

[alwaysfirst]

ED summons ex-Mumbai Police Commissioner Sanjay Pandey in NSE-co location case

Jul 15, 2022 06:45 IST Mumbai (Maharashtra) , July 15 (Always First): Enforcement Directorate summoned former Mumbai Police Commissioner Sanjay Pandey today in NSE-co location case. He has been asked to appear before them in Delhi for questioning in the illegal phone tapping of an NSE personnel matter. On July 9, the Central Bureau of Investigation (CBI) questioned Sanjay Pandey in connection with the illegal phone tapping of National Stock Exchange (NSE) employees. On Friday, following the orders of the Ministry of Home Affairs (MHA), CBI registered a fresh case in the alleged NSE co-location scam that involves the phone tapping of NSE employees. A senior CBI official informed that searches are underway across the country. The fresh First Information Report (FIR) mentioned the names of former NSE Chief Chitra Ramakrishna, Ravi Narain and former Mumbai Commissioner Sanjay Pandey for allegedly tapping the phones of NSE officials and other irregularities. According to a CBI official, it was said that Pandey was not reachable but he himself appeared for CBI's interrogation. Pandey is a 1986-batch Indian Police Service (IPS) officer who retired from service on June 30. During the investigation, it has been found that Pandey is closely related to the functioning and activities of a company called Isec Securities Pvt. Ltd. The company had conducted a security audit of NSE around the time when alleged irregularities had taken place. Isec Securities company was incorporated by Pandey in March 2001 and he quit as its director in May 2006. His son and mother took over the charge of the company. It has been alleged that illegal phone tapping of NSE employees was done between 2009-17. (Always First) Read the full article

[hindimaster]

Former Police Commissioner Of Mumbai Sanjay Pandey In Trouble As CBI Gets Important Evidence In NSE Scam Case Ann

Former Police Commissioner Of Mumbai Sanjay Pandey In Trouble As CBI Gets Important Evidence In NSE Scam Case Ann

CBI: एनएसई (NSE) सीओ रवि नारायण (Ravi Narayan) और एमडी चित्रा रामकृष्ण (Chitra Ramakrishna) सहित एनएसई के पूर्व शीर्ष अधिकारियों ने मुंबई के पूर्व पुलिस कमिश्नर संजय पांडे (Sanjay Pandey) की बनाई कंपनी के लिए काम किया था. पांडे की कंपनी iSEC ने शेयर बाजार के कर्मचारियों के फोन अवैध रूप से इंटरसेप्ट किए. केंद्रीय गृह मंत्रालय के कहने पर प्राथमिकी दर्ज करने के बाद सीबीआई (CBI) ने शुक्रवार को 18…

[social-mania]

What is a 'fat-finger trade' or freak trade?

Did you know that at times a wrong entry on a keyboard by a stressed trader can also bring down shares of any mighty company? It is known as fat finger syndrome. Let us know more about it.

It was one such wild swing at the National Stock Exchange -- triggered by a fat finger-- which had catapulted Chitra Ramakrishna to the helm of India's biggest bourse in April, 2013.

On October 5, 2012, the so-called “fat finger trade” had triggered a massive flash crash wiping off about Rs 10trillion of investors' wealth at NSE.

NSE CEO Ravi Narain had to pay the price and the baton was passed to Ramakrishna, who later got consumed by another bizarre scandal.

Moving on, last week the derivative segment on the National Stock Exchange witnessed a freak trade in the weekly Nifty 50 options contract, reportedly resulting in a loss of nearly Rs 200 crore for the trader.

This is not just a one-off instance. There have been such freak trades -- caused by human error. They are called the fat-finger trade.

On Thursday, Bloomberg Law reported that Citigroup Inc could suffer losses of over $50 million after a London-based employee's fat-finger trade caused a flash crash in European stocks last month. Citigroup is still in the process of calculating the exact loss.

In 2018, Deutsche Bank mistakenly transferred 28 billion euros to one of its outside accounts, more than the bank's market value.

Back in 2006, a fat-finger error by a trader at Mizuho Securities in Japan caused the firm to short sell a stock in an error that cost the firm 40 billion yen to unwind.

So, what exactly is a fat-finger trade?

To start with, a fat-finger trade is a human error while punching an order. This can include entering a wrong value in terms of price or quantity or selection of the wrong execution action such as buy or sell.

As soon as the freak trade gets executed, the price hits an abnormal level for a fraction of a second and then returns to the level where it should actually be. For instance the recent June 2 freak trade

The trader executed a large sell order in Nifty 14,500 call option at Rs 0.15. In contrast, the then quoted price of over Rs 2,100 as the spot stood at 16,600 level.

Here, the chances are that the trader might have selected the wrong contract. He or she may have wanted to place the sell order in either 14,500 put or the 16,500 call instead.

The contract eventually closed at Rs 2,139, resulting into a loss of nearly Rs 200 crore on the basis of the traded volume, according to various reports.

Freak trades not only result in a loss to the trader who punched the order, but also others who may have placed a Stop Loss order to their open positions, as their Stop Losses may have got triggered due to the abnormal price movement.

But the freak trades can be avoided if caught in time.

The exchanges and brokerages have made constant efforts to avoid such fat-finger trades by placing some preventive measures.

The exchanges and most brokerage houses have set filters to alert the traders while placing orders outside the typical market parameters. Similarly, the price movements are capped by placing of circuit filters and cooling off period.

[deshamukalamu]

Chitra Thiruvathrai Sri Perumbuther ❤️ Pc @namperumal_photography Follow fast @deshamukalamu For HD Photos Check-out  ➡️ https://in.Pinterest.com/deshamukalamu https://in.Pinterest.com/deshamukalamu2 #narayana #rama #krishnakrishna #lordvishnu #perumal #incredibleindia #govinda #tirumala #tirupatibalaji #venkateswaraswamy #balaji #lakshmi #deshamukalamu #hindutemple #hindugods #india #worship #ancienttemple #dailydevotional #bakthi #dailydarshan #harekrishna #ramakrishna #radhekrishna #tamily #chennai #kolam #andal #margazhi #karthikadeepam (at Adi Kesava perumal kovil aka Ramanujar kovil: Sriperambadur) https://www.instagram.com/p/CdK1TGWrSvQ/?igshid=NGJjMDIxMWI=

[divyabhashkar]

CBI files chargesheet against former NSE chief, associate in co-location scam: 10 points

CBI files chargesheet against former NSE chief, associate in co-location scam: 10 points

CBI files chargesheet against former NSE chief Chitra Ramakrishna and his associates New Delhi: In connection with the co-location scam case, the Central Bureau of Investigation (CBI) on Thursday filed its chargesheet against Chitra Ramakrishna, former head of the National Stock Exchange (NSE) and Anand Subramanian, a former group operating officer. Both Mrs. Ramakrishna and Mr. Subramaniam. He…

[ultimateketomealplan]

NSE Co-Location Case: "Highly Influential," Says CBI Opposing Chitra Ramkrishna's Bail: 5 Points

NSE Co-Location Case: “Highly Influential,” Says CBI Opposing Chitra Ramkrishna’s Bail: 5 Points

CBI opposes bail plea of Chitra Ramakrishna “The petitioner was a high-ranking official of NSE during the relevant period. Incriminating evidence has already come to the fore against her. The consequences of granting bail will adversely affect the investigation,” told the CBI. “She was looking into the day-to-day affairs and the entire co-location setup implemented during her tenure at NSE.…

[harpianews]

Board knew of NSE chief's misconduct but let her resign with glowing praise

Board knew of NSE chief’s misconduct but let her resign with glowing praise

THE BOARD OF the National Stock Exchange (NSE) “failed” to inform the market regulator Securities and Exchange Board of India (SEBI) despite “having knowledge of grave irregularities and misconduct” on the part of its then MD & CEO Chitra Ramkrishna and instead of acting against her, let her exit with glowing praise. When she resigned on December 2, 2016, the NSE board was chaired by former…

[prabudhajanata]

एनएसई की पूर्व सीईओ Chitra Ramakrishna को अदालत ने 7 दिन की सीबीआई कस्टडी में भेजा नई दिल्ली: विशेष अदालत ने सोमवार को NSE...