NSE Was Run by Invisible Baba; FM Silent: Congress
IANS 16 February 2022
The Congress has attacked the government questioning the silence of the finance minister (FM) on the issue of an alleged ghost baba giving directions to Chitra Ramkrishna, the former chief executive officer (CEO) and managing director (MD) of the National Stock Exchange (NSE).
 
"The NSE is India's largest stock exchange with a combined market capitalisation of close to $4 trillion (Rs 303 lakh crore), and was guided by a BABA residing in the Himalayas. BABA was appointing KMP's (Key Managerial Personnel), fixing salary and increments of executives of the NSE. Not only this, BABA was also deciding and appointing Public Interest Directors. Operating Margin of NSE was at 70 per cent (which is abnormal)," the Congress said.
 
Ms Ramkrishna was ousted from NSE in 2016 for her role in the co-location and algo trading scam and abuse of power in the appointment of COO.
 
Addressing a press conference, Congress spokesperson Gaurav Vallabh said, "The probe found that Ramkrishna ran NSE with impunity. No one from the senior management, board, or the promoters, which include big government institutions and banks, ever objected to her ways. Instead, Ramkrishna was given Rs44 crore as pending dues and salary when she left NSE."
 
Mr Vallabh questioned the silence of the Prime Minister and the FM on India's biggest financial scam of all time. "Why an IP address of emails sent by BABA can't be traced till now? The entire world is laughing at us that a country known as the Tech powerhouse of the world can't trace a BABA who is sending emails from an IP Address," he said.
 
The party asked who all had invested in NSE in the last 7.5 years, complete details of the holding, price of acquisition, and date of investment should be made public. The NSE is planning for an IPO (initial public offer) and, immediately after an IPO, value of investment made in the last 7.5 years will increase by 10 times.
 
"What was SEBI doing from 2016 on Chitra Ramakrishna shenanigans when scandalous facts were reported? When SEBI is not having any expertise on search and seizure, why the case was not transferred to the CBI, SFIO, ED and IT for investigation in the last 6 years. Who is stopping SEBI from doing the same?" he asked.
 
The party asked since 2015 when co-location and algo trading scam was reported, what action was initiated by the finance ministry and the Securities and Exchange Board of India (SEBI) against the NSE and alleged that instead of investigating co-location and algo trading scam on its own, asked NSE to undertake a forensic audit.
 
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Comments
Kamal Garg
4 months ago
Congress must remember that this whole episode of Chitra Ramakrishna happened during Congress rule only. As per grapevine, the Baba referred in the episode is some astute, intelligent, big and powerful politician/minister in Congress regime having South India connection.
I think BJP is trying to nab that minister now in this case, since earlier it could not find any clinching evidence against him despite involvement of even CBI.
mssmani
Replied to Kamal Garg comment 4 months ago
Please talk with some basic send. If Congress is responsible for this mess up , what has been back holding to hand over the case to CBI and has the ruling government been sucking ?
aaronaier74
Replied to Kamal Garg comment 4 months ago
You are funny. If Congress was involved they would have been even more silent.
Kamal Garg
Replied to aaronaier74 comment 4 months ago
Yes, intriguing.
kalemohan
4 months ago
she was appointed in the era of p.chidambaram. and found guilty in 2016.i.e.in Mody Era.means congress must be involved in bad doings.
aaronaier74
Replied to kalemohan comment 4 months ago
As if the present government is washed in pure white milk.
kalkrish1952
Replied to aaronaier74 comment 4 months ago
So you admit congress's involvement?
gbrhyd
4 months ago
Don’t criticise government,this is run by babas, yogis and sanyasis. If you criticise you are not Hindu.
kalkrish1952
Replied to gbrhyd comment 4 months ago
Rubbish comments, trying to divert attention 9f congress corruption
mssmani
Replied to kalkrish1952 comment 4 months ago
Who is diverting ,Please wash your brain first
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