Sebi rejects Chitra Ramkrishna's claim of no 'Physical Persona' of unknown person

Mumbai: The claim of National Stock Exchange's (NSE) former chief Chitra Ramkrishna that the 'unknown person', to whom she passed on the bourse's confidential information, did not have a 'physical persona' was rejected by the Securities and Exchange Board of India on the grounds that both individuals exchanged emails and met each other on various occasions.

In a recent order, the capital markets regulator revealed email communications between the 'unknown person' and Ramkrishna in 2015 that were included as evidence as part of its probe into the alleged violations in securities contract rules related to the appointment of Anand Subramanian as group operating officer and adviser to the managing director.

"...it is evident that the unknown person is a physical being and has gone on vacations with the Noticee no. 1 (Ramkrishna) to "chill"," said the Sebi order dated February 11. "It is apparent that Noticee no. 1 has refused to reveal the identity of the unknown person and has sought to claim that the unknown person is a spiritual force."

In her submission before Sebi, Ramkrishna said the anonymous 'unknown person' was a 'Siddha Purusha' or a 'Yogi' who is a 'Paramahansa', largely dwelling in the Himalayas. The former MD and CEO of NSE had also told Sebi that she has sought personal and professional guidance from the unknown person for the past 20 years.

Sebi used emails between the 'unknown person' and Ramkrishna to establish that both of them met on a few occasions. The regulator, in its order, revealed an email dated February 17, 2015, allegedly from the 'unknown person' to Ramkrishna. It read,"...p.s, keep bags ready I am planning a travel to Seychelles next month, will try if you can come with me, before Kanchan goes to london with Kaanchana and Barghava and you to New Zealand with two children. HK is a preferred transit or Singapore for onward journey. In case you need help pi let me know Seshu will do the needful. If you know swimming then we could enjoy a sea bath in Seychelles and rest in the beach. I am asking my tour operator to connect with Kanchan for all of our tickets."