Former NSE top executives, Chitra Ramkrishna and Anand Subramanian, are likely to be summoned to appear before the Mumbai or Chennai Income Tax (IT) department within the next 48 hours, sources told BusinessLine. The summons will be issued once the data collected from Thursday’s raid is studied by the Central Board of Direct Taxes in Delhi, from where the search and seizure operations are being coordinated in this case. 

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The government is also likely to rope in the Enforcement Directorate (ED) to widen the probe to check the money laundering angle after a report released by SEBI last week pointed to many foreign travels by Ramkrishna and Subramanian, including to tax havens, sources said. 

Ramkrishna is likely to be in Chennai, said sources.

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In the past couple of days, BusinessLine has made several calls to Ramkrishna and her former boss, Ravi Narain, but none were answered. An attempt was also made to reach out to Sunitha Anand, wife of Anand Subramanian, who was also employed at NSE’s Chennai office, but in vain. Narain who headed NSE till 2013 had recommended to the exchange board to make Ramkrishna as the next MD and CEO.

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