Anand Subramanian arrested by CBI in NSE co-location case

The Central Bureau of Investigation (CBI) arrested Anand Subramanian, former National Stock Exchange (NSE) group operating officer, from Chennai late on Thursday night in connection with its ongoing probe into irregularities at the country’s largest stock exchange.

A special CBI Court in Delhi has remanded Subramanian to CBI custody till March 6. He was brought to Delhi on Friday afternoon. His arrest came after four days of intense questioning in Chennai this week. This is the first arrest by the agency in connection with its probe into alleged unauthorised exchange of emails with confidential information between former NSE chairperson Chitra Ramkrishna and an unidentified individual referred to as “Yogi”, which was unearthed by market regulator Sebi.

People in the know said that preliminary investigations and confrontation of Subramanian with the emails reveal that he is aware of the identity of the mysterious Himalayan yogi. CBI is also trying to verify the possibility of Subramanian himself being the said yogi, they said.


According to them, CBI has unearthed evidence that links Subramanian with email id rigyajursama@outlook.com, which was allegedly used by Ramrkishna to share confidential information with the unknown yogi. However, agency officials remain tight lipped about the issue.

People in the know said Subramanian failed to give clear responses to CBI sleuths’ questions and remained evasive during his interrogation in Chennai. The agency has recovered digital documents from his Chennai residence, they said. Subramanian had also served as advisor to Ramkrishna. CBI has already quizzed Ramkrishna. Former NSE MD and CEO Ravi Narain was also quizzed.

CBI had last week expanded its ambit of probe in the NSE colocation case registered in 2018, and opened look-out circular against Ramkrishna, Subramanian, and Narain. It might be clarified here that Ramkrishna was not named as an accused in the FIR registered by CBI in May 2018.