SEBI

The regulator has proposed changes to various procedural activities involved in the 'buy back' tender offers which would help reduce the overall time required in the 'open offer' process from 43 working days to 36 working days. Besides, other proposed amendments would help reduce the overall time required in the 'open offer' process from the existing timeline of 62 working days to proposed timeline of 42 working days.

CBI Judge Sanjeev Aggarwal of Rouse Avenue Court was hearing the matter in which Anand Subramanian, the ex-Group Operating Officer of the National Stock Exchange (NSE), was sent to 14 dats judicial custody, in connection with the co-location scam case.

Arrested from her Delhi residence, Ramkrishna will be produced before the Rouse Avenue Court on Monday, and the agency will seek her custody for questioning. Earlier, ex-Group Operating Officer Anand Subramanian was arrested on the night of February 24 after several rounds of questioning. He was later sent to CBI custody till March 6. The CBI is trying to corroborate the evidences collected by them with the questioning of Subramanian.

The Delhi court, which dimissed the anticipatory bail plea of National Stock Exchanges's (NSE) former Managing Director and CEO Chitra Ramkrishna in the fraud case, termed the scam as a "dark period" in the bourse's history. The Rouse Avenue Court's order, accessed by IANS, shows that the court was not happy with the conduct of Ramkrishna as NSE chief.

The Centre on Monday announced the appointment of Madhabi Puri Buch as the new Chairperson of the market regulator Securities and Exchange Board of India (SEBI). This is the first time that a woman and a person from the private sector has been chosen for the top post at the SEBI. The appointment would be initially for three years from the date of assumption of post or until further orders, which is earlier, the notification added.

In a latest development in the NSE fraud case, the Central Bureau of Investigation (CBI) has arrested Anand Subramanian, the former Chief Strategic Advisor of National Stock Exchange, from Chennai on the intervening night of Thursday and Friday. A source told that he will be produced before the concerned court. The federal probe agency will seek his custodial remand.

The Enforcement Directorate (ED), which on Monday conducted raids at the offices of Indiabulls Housing Finance in Mumbai and Delhi in connection with a PMLA case lodged against the company and its promoter Sameer Gehlaut in April 2021, has reportedly recovered a few incriminating documents. The ED also questioned the Indiabulls officials about a few clients. Their data was provided to the ED by the Indiabulls officials.

A source told IANS that his statements was recorded for three consecutive days at Chennai. "His statement is over. We have asked him not to leave the country. He will be summoned again whenever we will have a need. He was evasive throughout the questioning," the Central Bureau of Investigation (CBI) source said.

Earlier, it was speculated that he had fled to London but the CBI source confirmed that Ravi Narain is very much in Mumbai and his statement wad recorded. Ravi was too evasive and tried to evade a lot of questions. He also requested that his LoC should be closed. Now CBI will record the statement of Anand Subramanian who was hired in NSE by flouting all rules by Chitra Ramakrishna as a Chief Strategic Advisor.

From the email dated December 4, 2015 of the unknown person to Ramakrishna, the unknown person has stated that "Kanchan is the straw and I will be the suction force for this and you will vomit all that is required as always". A SEBI investigation found that from the same, it is evident that Ramakrishna had abdicated all her powers to the unknown person and was playing in the hands of an unknown person through the instrumentality of Anand Subramanian.