CBI arrests former NSE CEO Chitra Ramkrishna in co-location case

 She will be presented before a Delhi court on Monday morning

The Central Bureau of Investigation (CBI) on Sunday night arrested former managing director (MD) and chief executive officer (CEO) of National Stock Exchange Chitra Ramkrishna in Delhi in the co-location case after her anticipatory bail plea was rejected by a Special CBI court on Saturday.

“She will be presented before a Delhi court on Monday morning,” a CBI official said under condition of anonymity. CBI had arrested former group operating officer of NSE Anand Subramanian last week. CBI may also seek extension of Subramanian’s custody on Monday whose 10-day custody ended on Sunday.

The arrests were made in the case related to the co-location scam, the FIR for which was registered in May 2018, amid fresh revelations about irregularities at the country’s largest stock exchange. The CBI had last month questioned Ramkrishna, Subramanian and Ravi Narain, also former CEO of the NSE. A report of the Securities and Exchange Board of India last month showed that Ramkrishna took key decisions at the NSE from 2013 to 2016 on the advice of a “Himalayan yogi”, whom she had never met and who instructed her to appoint Subramanian group operating officer…Read More

NSE puts restrictions on YES Bank shares, no bank guarantees to be accepted 

The bank has also experienced serious governance issues and practices in the recent years which have led to steady decline of the bank

The National Stock Exchange (NSE) on Friday put restrictions on YES Bank shares in various segments, including futures and options. In a rare move, capital-starved YES Bank was on Thursday placed under a moratorium, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.

The categories placed under restriction include debt, securities lending and borrowing scheme, currency derivatives, commodity derivatives, futures and options, as per notification by NSE. "Due to the recent development in YES Bank Crisis it has been decided that no fresh or renewal of bank guarantees and fixed deposit receipt issued by the bank limited will be accepted," it said.

The existing benefit provided to members towards Bank Guarantees and Fixed Deposit Receipt issued by YES Bank in favour of NSE Clearing Ltd, shall also be reduced, it added.

"The financial position of YES Bank has undergone a steady decline largely due to inability of the bank to raise capital to address potential loan and losses and resultant downgrades, triggering invocation of bond covenants by investors and withdrawal of deposits," NSE said in a separate circular.

The bank has also experienced serious governance issues and practices in the recent years which have led to steady decline of the bank, it added.