The order of 'Yogi' was paramount, the stock exchange ran on his behest for three years

The Securities and Exchange Board of India (SEBI) has made a shocking disclosure about the National Stock Exchange. According to the SEBI report, Anand Subramaniam's group in the NSE was formed at the behest of a 'yogi' appointed as an advisor to the operating officer and managing director. Whereas, Subramaniam had no experience in the capital market, yet his annual package was increased from 15 lakhs to above four crores.

After this disclosure of SEBI, everyone wants to know about the yogi with spiritual power. SEBI says that this is the same spiritual power, on whose behest Chitra Ramakrishna, former MD and CEO of NSE, used to take every decision. This spiritual power has never been seen before. It is claimed that Chitra Ramakrishna was the MD of National Stock Exchange for three years and she kept taking every decision at the behest of the same Yogi.

The yogi who lives on the hills of the Himalayas

According to a SEBI official, Chitra Ramakrishna, former MD and CEO of NSE, took the decisions related to NSE at the behest of a yogi, who was never even seen. Chitra Ramakrishna was impressed by a yogi living in the Himalayas, under whom he appointed Anand Subramaniam as an advisor to the group operating officer and managing director at the exchange. Ramakrishna was the MD & CEO of NSE from April 2013 to December 2016. She used to call Yogi Siromani, who according to her is a spiritual force and has been guiding her on personal and professional matters for the past 20 years.

Was in contact with Yogi Paramhansa for 20 years

SEBI has mentioned 'unknown person' 238 times in the 190-page order. Chitra used to address this person as Shiromani. She also used to communicate by e-mail as CEO. In a statement given to SEBI in 2018, Chitra had told that she used to communicate with a person named Yogi Paramhans, who roams in the Himalayas. She is in touch with him for 20 years and takes guidance from this spiritual force.

Like taking advice from a coach, mentor or superiors

SEBI clearly asked Chitra whether it was not a violation of administrative rules to consult such an unknown person in the matter of NSE? She replied that she used to take this guidance before taking decisions as MD and CEO. Many senior executives seek advice from a coach, their mentor or other superiors. He felt the same way with this guidance. This was a spiritual matter, so the question of confidentiality or fidelity did not arise.

Subramaniam's salary was increased arbitrarily

Subramaniam was offered to join NSE as Chief Strategy Advisor in April 2013. Earlier he was working in Middle Level Management in BAlMER AND LAWRIE. During this his annual package was less than 15 lakhs. But he got an annual package of Rs 1.68 crore while getting the offer from NSE. In April 2014, his annual package was increased from 1.68 crore to 2.01 crore. In 2015 it was 3.33 crores. In 2016 it became 4.21 crores.

This action

Sebi also imposed fines on Ramakrishna and Subramanian as well as NSE and its former managing director and chief executive officer Ravi Narayan and others. The regulator imposed a fine of Rs 3 crore on Ramakrishna, Rs 2 crore each on National Stock Exchange (NSE), Narayan and Subramanian and Rs 6 lakh on V R Narasimhan. Along with this, the regulator barred NSE from introducing any new product for six months. In addition, Ramakrishna and Subramanian have been barred from associating with any market infrastructure institution or any intermediary registered with SEBI for a period of three years. Whereas for Narayan this restriction is for two years.