Former NSE CEO Chitra Ramkrishna gets Sebi's Rs 3.12-crore demand notice

New Delhi: Markets regulator Securities and Exchange Board of India (Sebi) on Tuesday issued a demand notice to the former NSE chief executive Chitra Ramkrishna. The regulator, in the notice, has asked Ramkrishna to pay Rs 3.12 crore in a case related to governance lapses at the stock exchange.

Further, she has been warned of arrest and attachment of assets and bank accounts in case of failure of the payment within 15 days. The notice was served after the ex-NSE boss failed to pay the fine imposed on her by the Securities and Exchange Board of India.

“You are hereby directed to pay the sum of Rs 3,12,01,000 along with further interest, all costs, charges and expenses within 15 days of the receipt of this Notice," the market regulator said.

In the event of non - payment of the dues as above, SEBI shall recover the money by one or more of the following modes:

(a) attachment and sale of your movable property;

(b) attachment of your bank accounts;

(c) attachment and sale of your immovable property;

(d) arrest and detention in prison;

(e) appointing a receiver for the management of your movable and immovable properties.

Sebi has further added that upon service of this notice, Ramkrishna will not be competent to mortgage, charge, lease or otherwise deal with any property belonging to you except with the permission of the Recovery Officer and any such transfer shall be deemed void as per rule 16 of the Second Schedule to the Income tax Act, 1961.

Sebi had, in an order dated February 11, slapped a fine of Rs 3 crore on Ramkrishna for alleged governance lapses in a case related to the appointment of Anand Subramanian as the Group Operating Officer and Advisor when she was at the helm of NSE as its Managing Director and Chief Executive Officer, as well as for sharing confidential information of the company with an unidentified person.

The body had also fined Ravi Narain, Ramkrishna’s predecessor and Subramanian and others.

The former NSE boss is currently lodged in Delhi’s Tihar Jail after she was arrested by the CBI on March 6 in the NSE co-location scam case and investigation linked to other governance lapses at the bourse.