Former stock exchange official Anand Subramanian, suspected of being the mysterious “Himalayan Yogi” who influenced the decision of former CEO Chitra Ramakrishna, was denied bail today by a CBI court.
Anand Subramanian, who is the Group Operating Officer of the National Stock Exchange (NSE), was arrested on February 25. He and Chitra Ramakrishna are being investigated on allegations of market manipulation, in what is known as “joint location fraud”.
Denying he was released on bail, the court commented that this Himalayan Yogi was “as elusive as the Himalayan Yeti” and had evaded through investigation.
“Investigations are underway and investigating agencies are in the process of removing the secret veil to show the court the true face of this Himalayan Yogi, which is as elusive as the Himalyan Yeti anecdote,” the court said.
The court noted that according to the CBI, Anand Subramanian was a “Himalayan Yogi” with whom confidential information about the structure and work of the NSE was shared by Chitra Ramakrishna. Ms Ramakrishna, who contacted her at the mail id firstname.lastname@example.org, was accused of working together in a “dangerous conspiracy called joint location fraud”, the court said.
The two allegedly also visited the notorious tax haven when they were number 1 and number 2 on India’s largest stock exchange, and an investigation is underway, the court said.
“It is also stated that the accused remained evasive during the investigation. It is stated that it is the public responsibility of the accused to protect the interests of ordinary investors while stationed in the NSE, instead he was involved in criminal conspiracy and caused huge advantage to various traders/brokers, hence he committed economic wrongdoing. serious, “the CBI Court said.
The prosecution, he said, is at the stage of an investigation where it is working on “intermittent scattering points, from which it needs to create a final picture in the form of a charge sheet”.
The investigation will become clear only after the filing of the charge sheet, the court said.
“Therefore, given the weight and seriousness of the charges against the accused now, there is no reason for his bail to be made at this stage,” the court said.