SEBI sent a message to former NSE chief Chitra Ramkrishna on Tuesday
New Delhi:
Capital market regulator Securities and Exchange Board of India (SEBI) on Tuesday sent a message to former National Stock Exchange (NSE) chief Chitra Ramkrishna requesting payment of Rs 3.12 crore in a case related to the expiry of the board on the stock exchange, and warned against seizure and seizure of assets and bank accounts if she does not make the payment within 15 days.
The notice came after Ms. Ramkrishna failed to pay the fine imposed on her by SEBI.
In a Feb 11 order, SEBI had fined Ms Ramkrishna of Rs 3 crore for alleged wrongdoing in the board in a case involving the appointment of Anand Subramanian as Group Operating Officer and Advisor when she was at the helm of NSE as its CEO and Chief Executive Officer, as well as for sharing Company confidential information with an unidentified person.
Apart from punishing Ms Ramkrishna, SEBI had fined Ravi Narain, the predecessor of Ms Ramkrishna, Mr Subramanian and others.
In its new message, SEBI ordered Ms Ramkrishna to pay Rs 3.12 crore including interest and recovery costs within 15 days.
In the event of non-payment of the contribution, the market supervisor will recover the amount by seizing its movable and immovable property and selling them. In addition, Ms Ramkrishna is facing seizure of her bank accounts and arrest.
Ms Ramkrishna is currently incarcerated in Tihar Prison in Delhi after she was arrested by the CBI on March 6 in the NSE case for colocation scams and investigation related to other managerial errors at the exchange.
Last month, the regulator made similar requests to Messers Narain and Subramanian.
In April, the Securities Appellate Tribunal (SAT) admitted Ms Ramkrishna’s plea against the SEBI order regarding the forfeiture of governance in the stock exchange and ordered her to deposit an amount of Rs 2 crore.
The appeals court had also ordered NSE to deposit more than Rs 4 crore for collecting leave and deferred bonus from Ms Ramkrishna in an escrow account, contrary to SEBI’s indication where the amount should be parked in the Investor Protection Fund Trust.
