Income Tax Dept raids premises linked to former NSE MD Chitra Ramkrishna

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The Income Tax (IT) Department raided premises linked to Chitra Ramkrishna, former managing director (MD) of the National Stock Exchange (NSE), official sources said.

According to the sources, searches are going in Mumbai and Chennai at premises linked to Chitra Ramakrishna as part of a tax evasion investigation against her. Chitra Ramkrishna was managing director and chief executive officer (MD & CEO) of the NSE from April 2013 to December 2016.

She has also been on the radar of the market regulator Securities and Exchange Board of India (SEBI). Last week, the SEBI penalised Chitra Ramkrishna, her predecessor at the NSE Ravi Narain, two other NSE officials for lapses in hiring at the senior level.

The market regulator found that the NSE and its top officials violated securities contract rules related to the appointment of Anand Subramanian as group operating officer and adviser to the Managing Director.

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