Financial Insights

NSE THE CLEAN EXCHANGE CAME UNDER SCRUTINY

NSE has a clean record among all exchanges till now. But the recent order of sebi regarding the scam in NSE has shocked everyone.

The Former CEO and MD has passed some confidential information about the bourse to the unknown person. This person persuaded her to revise the compensation /salary of the former chief operating officer Anand Subramanian.

The SEBI in its recent order has revealed that RAmkrishna and some other senior exchanges executives have violated the securities contract rules on appointment of subramanian as group operating officer.

The order revealed that the ‘unknown person’, whom Ramkrishna in her submissions to Sebi referred to as a ‘Siddha Purusha’ or a ‘Yogi’ largely living in the Himalayas, had told her to revise Subramanian’s employment contract in an email dated February 19, 2015.

Salary of Subramanian has increased 1.68 crore after his joining in NSE  in January 2013 to April 2016 when he exited,” revealed in recent SEBI Order on FEB 11th.

 Salary was raised by 20% in March 2014 and within another two months he got an additional hike of 15% due to “A plus” performance review. In 2015 too, Anand received two appraisals – in March 2015, his salary was revised upwards by 15% and then in April by another 10%.

NSE Former HR Head Chandrasekhar Mukherjee revealed that the process of appointment of Mr Anand Subramanian was different compared to normal process.

This is the biggest Spot on Image of NSE who till Now had a Clean History till now.

Abhishek Kumar(Research Analyst Jobaaj.com)

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