NSE CEO sought guidance from ‘spiritual force’ in running the exchange for 20 years

As per a SEBI order, Ramakrishna submitted that for the past 20 years she has sought guidance from the unknown person on many personal and professional matters and therefore, it may suffice to say that she holds the unknown person in very high regard and is influenced significantly by the unknown person.

In this regard, I note that as per email dated September 5, 2015, the unknown person has stated to Ramakrishna that "SOM, If I had the opportunity to be a person on Earth then Kanchan is the perfect fit. Ashirvadhams. SIRONMANI."

Ramakrishna vide her email dated December 30, 2015 to the unknown person, stated that "Struggle is I have always seen THEE through G, and challenged to on my own realise the difference.

"Here, I note that "SOM" refers to Noticee no 1, Ramakrishna and "Kanchan" and "G" refer to Noticee no 6, Anand Subramanian, Group Operating Officer and Advisor to the MD.

Therefore, from the said emails it is apparent that Ramakrishna holds Subramanian in the same light as her spiritual force, whom she greatly relies upon, and thus would have been looking towards the interest of Subramanian.

"Hence, the preferential treatment towards Subramanian becomes apparent from the above that Ramakrishna regards Subramanian as to be like her spiritual guru whom she has revered and relied upon for the past 20 years", the SEBI order said.

"Hence, there appears to be a glaring conspiracy of a money making scheme that involves Ramakrishna and Subramanian with the unknown person, by which Ramakrishna would increase the compensation granted to Subramanian and he would then pay the unknown person from such increased compensation. 

This gives further credence to the allegation that there was an arbitrary and disproportionate increase in compensation granted to Subramanian by Ramakrishna", it said.