NSE scam: Need to tighten corporate governance in India
An alleged e-mail between Chitra Ramakrishna, former MD and CEO of the National Stock Exchange (NSE) and his 'yogi' in the Himalayas, and an 'arbitrary' pay hike to operating officer Anand Subramaniam, have come to light. The explosive information provided by SEBI last week about the Chitra Ramakrishna, Subramaniam and the mysterious yogi in its 150-page final order on the NSE co-location scam has raised questions about corporate governance. If such a big scam is taking place in the country's largest stock exchange then where is the talk of small companies. With the failure of corporate governance, it is time to reconsider measures to curb malpractice in corporate structures and companies. It is a serious incident that during the year 2013-2014, Chitra Ramakrishna was giving information about RJR of NSE to an unknown Yogi Baba through an e-mail and managing the stock exchange at his behest. The verdict comes almost six years after Chitra Ramakrishna was expelled ...