NEW DELHI: The Centre may order a probe into charges that former CEO & MD of NSE Chitra Ramkrishna shared confidential information about India’s largest stock exchange with a mysterious outsider, whom she described as a Siddha-Purush without a physical persona who lived in the Himalayas and communicated with her only through email.
Market regulator Sebi, while investigating an alleged co-location scam by NSE, stumbled upon emails exchanged between Ramkrishna and the mystery baba.
Forensic examination of Ramkrishna’s computer by Ernst & Young revealed emails from the so-called Siddha Purush advising her on operational matters, including appointments to key posts, and she sharing sensitive plans and projections with him.
Ramkrishna said she met the Siddha-Purush on the banks of river Ganga 20 years ago and he gave her no locational co-ordinates but she took his guidance on many personal and professional matters.
She said, “Their spiritual powers do not require them to have any such physical co-ordinates. Along the way, he would manifest at will and I did not have any locational co-ordinates, I requested Him for a way in which I could seek His guidance whenever I felt the need. Accordingly, He gave me an id on which I could send my requests.”
Government sources rubbished the ‘cock and bull’ Siddha-Purush story put forward by Ramkrishna in her defence and said emails recovered during investigation prima facie establish a criminal conduct on her part, and an investigation would be ordered to find out the identity of the unknown person as the matter concerns financial security of the country.
They said investigation is also needed to find out why the NSE dispose off her laptop hurriedly without examining it and who took the decision not to preserve even her desktop for a future inquiry. Sources said the role of NSE would also be investigated to find out why Ramkrishna was allowed to resign and leave honourably and why no action was taken against her by the NSE when its board was fully aware of the emails exchanged between her and the unknown person.
The Sebi probe conducted by its whole-time member Ananta Barua, who submitted his final report on February 11, 2022, said on page 123, “I note from the E&Y Report that only the desktops assigned to Noticee No 1 (Chitra Ramkrishna) and 6 were imaged/checked and the laptops assigned to Noticees No 2 (NSE, whose laptop Ms Ramkrishna was using) and 6 were not available for forensic imaging as they were disposed as E-waste.
Mystery communication and a lot of unknown facts about private e-mails
The report further said, “I also note from the E&Y Report that only the official emails id’s of Noticees No. 2 and 6 could be checked and emails sent/received to/from their private emails to the unknown person could not be accessed.”
On Ramkrishna’s claim about the mystery person with whom she was communicating on email id rigyajursama@outlook.com not having a physical form, the SEBI investigation report said: “From a perusal of the emails… it is evident that the unknown person is a physical being and has gone on vacations with the Noticee No. 1 (Ramkrishna) to ‘chill’. It is apparent that Noticee No. 1 has refused to reveal the identity of the unknown person.”
The Sebi report concluded by saying, “For the Noticee No. 1 to contend that sharing of such confidential information that includes financial and business plans of NSE has not caused any harm, loss or prejudice to the market is absurd and questionable. The Securities market is a competitive market and the stock exchanges, which are also profit making companies, have constantly competed to gain maximum market capitalisation."
"Sharing of financial and business plans of NSE with unknown person by the MD & CECEO is a glaring act that could shake the very foundations of the stock exchange. If such confidential and sensitive information of NSE could be blatantly shared over official emails by Notice No. 1, one can fathom how much confidential information has been shared."