Who is NSE ex-CEO’s mysterious ‘Himalayan’ yogi?

New Delhi: Who is (or was) the mysterious yogi in the Himalayas advising NSE’s ex-CEO Chitra Ramkrishna on matters of the stock exchange is the question on the minds of everybody with even a passing interest in financial markets.

Consultancy firm EY has pointed out Anand Subramanian, NSE’s former Group Operating Officer and Ramkrishna’s close confidante, as the person behind the e-mail id [email protected] with whom Ramkrishna had shared confidential information. NSE seems to agree with that, but SEBI is not buying the theory.

There are other names doing the rounds in market circles as well, including those of a former finance minister and a senior finance ministry official. Then there are those who feel the mastermind is none of the above.

There are many reasons to believe, besides the EY report, that Anand Subramanian could be the yogi. One, the ‘chemistry’ between Chitra and Subramanian was an open secret among NSE staffers and the topic of water cooler discussions.

NSE insiders say both she and Subramanian were believers in astrology and orthodox rituals, and that he had a strong hold over her. He rode roughshod over senior colleagues, without ever being reprimanded. 

Chitra had certain administrative rules altered so that Subramanian could enjoy perks (first class air travel, accommodation on business trips) that he was otherwise not eligible for.

A perusal of the mails shows that Subramanian is a clear beneficiary of the yogi’s directions, in terms of salary increments, perquisites, and power. The theory is that Anand would put forward proposals to Chitra, which she would consult the yogi on, and the yogi in turn would approve.

On some of these mails, Subramanian too was marked. It may have been Subramanian’s way of ensuring that Chitra followed the instructions of the yogi, reports CNBC.

All this fits well with the surmise that he was the one duping Chitra into giving him more powers and money.

But there are reasons as well to believe that Subramanian may not have been the yogi.

First, Chitra herself has said that Subramanian is not the yogi. Second, she said she had been taking guidance from the yogi for 20 years. 

Chitra is accused of sharing confidential information of the exchange with him. 

Image courtesy of (Mint)

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