The Central Bureau of Investigation (CBI) has questioned former National Stock Exchange (NSE) Group Operating Officer Anand Subramanian in a 2018 case related to the alleged abuse of server architecture of the exchange to provide access to a private company to the data before any other broker.
“Mr. Subramanian’s statement was recorded in Chennai over the past three days, till Monday. A CBI team has also collected the relevant documents from the office of the Securities and Exchange Board of India [SEBI] in Mumbai,” said an agency source. The CBI had earlier examined former NSE Managing Directors Chitra Ramkrishna and Ravi Narain. Look-out circulars have been issued against all the three.
The CBI had registered the case against stock broker OPG Securities and others, including unknown officials of the SEBI and the NSE. It was alleged that the company was given preferential access to the market data feed from the exchange’s server, via an algorithmic trading software package named “Chanakya”, ahead of other brokers.
