A Yogi Ran India's Top Stock Exchange As Puppet Master: Regulator
NDTV
Chitra Ramkrishna, the former chief executive of National Stock Exchange, shared information including the bourse's business plans and board agenda with a purported spiritual guru in the Himalayas, the SEBI said.
The former head of the country's largest stock exchange shared confidential information with a yogi and sought his advice on crucial decisions, a probe by the market regulator has found, ahead of the bourse's much-awaited public listing.
In a case of "bizarre misconduct" that was a "glaring breach" of regulations, Chitra Ramkrishna, the former chief executive of National Stock Exchange (NSE), shared information including the bourse's financial projections, business plans and board agenda with a purported spiritual guru in the Himalayas, the Securities and Exchange Board of India (SEBI) said.
"The sharing of financial and business plans of NSE ... is a glaring, if not unimaginable, act that could shake the very foundations of the stock exchange," SEBI said in an order, imposing penalties on Ms Ramkrishna, the bourse and other top former executives for the lapses.
Ms Ramkrishna, who quit NSE in 2016 citing "personal reasons", was not immediately reachable for comment. NSE and SEBI did not respond to requests for comment.
