In this picture taken on April 4, 2015 shows Managing Director and CEO of the National Stock Exchange Chitra Ramkrishna during an event in Mumbai. (UMESH GOSWAMI / AFP)
NEW DELHI – India's federal police on Sunday arrested the former chief executive of the National Stock Exchange of India in a case related to alleged governance lapses at India's top bourse, a source with direct knowledge told Reuters.
The market regulator penalized Chitra Ramkrishna, among others, after an investigation that showed she had sought advice for years from an outsider she described as a Himalayan yogi
Chitra Ramkrishna was arrested in New Delhi, the source at the Central Bureau of Investigation said, without sharing further details.
The market regulator penalized Ramkrishna, among others, after an investigation that showed she had sought advice for years from an outsider she described as a Himalayan yogi.
The action is the latest sign the CBI is stepping up its investigation of a 2018 case involving allegations that the NSE provided some high frequency traders unfair access to speed up algorithmic trading. The additional scrutiny risks further delaying a planned NSE listing.
READ MORE: Voting underway in India's most populous state
Sunday's arrest follows a Feb 11 order by the market regulator that highlighted lapses at the exchange and said Ramkrishna, who quit as CEO in 2016, was "merely a puppet" of someone she described as a yogi.