NSE co-location scam: CBI seeks data of formless ‘Yogi’ email from Microsoft

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The CBI has approached the United States under Mutual Legal Assistance Treaty to collect data on the email id of Nirakar Yogi in the NSE co-location scam case. Chitra Ramakrishna, former MD and CEO of NSE, had told SEBI that a formless mysterious “yogi” was guiding her over email in decision-making.

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Officials told on Friday that the email ID to the central agency [email protected] It needs data from Microsoft, which was reportedly operated by Subramaniam to communicate with the then NSE MD and CEO Chitra Ramakrishna.

The CBI has sent a request to the US through the Ministry of Home Affairs to collect the user ID from Microsoft Inc. to corroborate the agency’s evidence against Ramakrishna and Subramaniam in the case. [email protected] Provides metadata and content data.

Officials said the Outlook platform on which the email IDs were created is a service of Microsoft and the CBI wants details of the email exchanges that have been deleted from the email accounts but can be recovered by the company.

In its charge sheet filed recently, the CBI has stated that the e-mail id from Ramakrishna Nirakar Yogi, the then MD and CEO of NSE [email protected] was communicating with. The CBI has alleged that Subramaniam had created the email ID on March 10, 2013 to further his criminal conspiracy.

What is co-location scam?

Some brokers of the country’s major National Stock Exchange, the center of share buying and selling, were given such a facility, so that they could get information about the prices of shares earlier than the rest. By taking advantage of this they were making huge profits. This was probably violating the demutualization and transparency based framework of the NSE. They were given direct access by co-locating the server with the help of rigged insiders. The Securities and Exchange Board of India received an undisclosed information in this regard. It was alleged that some brokers with the help of NSE officials were already taking advantage of the information. Considering the boom in NSC buying and selling, the amount of scam is estimated to be Rs 50,000 crore in five years.