The Securities and Exchange Board of India (Sebi) on Tuesday sent a notice to former Managing Director and CEO of NSE, Chitra Ramkrishna, asking him to pay Rs 3.12 crore in a case related to governance failures in stock Exchange.
He warned of arrest and seizure of assets and bank accounts if she does not make payment within 15 days. Any transfer of property or money from his name after Feb. 11, 2022 will be treated as his property for recovery purposes, Sebi said. The notice came after Ramkrishna failed to pay the fine imposed on him by the regulator.
In an order dated February 11, Sebi imposed a fine of Rs 3 crore on Ramkrishna for alleged governance failures in a matter related to the appointment of Anand Subramanian as group operations manager and adviser when she was at the helm of NSE as chief executive. and CEO, and for sharing confidential company information with an unidentified individual.
In his new notice, Sebi ordered Ramkrishna to pay Rs 3.12 crore including interest and collection costs within 15 days. In the event of non-payment of the dues, the watchdog will recover the amount by seizing and selling its movable and immovable property. Furthermore, Ramkrishna faces seizure of his bank accounts and arrest.
Ramkrishna is currently being held at Tihar Prison in Delhi after being arrested by the CBI on March 6 in the NSE roommate scam case and an investigation related to other breaches of stock exchange governance. Last month, Sebi issued similar formal notices to Narain and Subramanian.