'Spiritual guru' dwelling in Himalayas ran operations of India's national stock exchange for years with the help of bourse's boss who leaked confidential information to the faceless yogi, probe shows
Chitra Ramkrishna told investigators that sharing of information with the faceless yogi who was"spiritual in nature" did not compromise confidentiality or integrity.
"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 Ramkrishna, the bourse and other top former executives for the lapses. The exchange had planned to go public in 2017 but its listing was derailed by allegations officials had provided some high-frequency traders unfair access through co-location servers, which could speed up algorithmic trading.
Ramkrishna, in her defence, told SEBI that sharing of information with the person who was "spiritual in nature" did not compromise confidentiality or integrity.The SEBI order however stated that it was "absurd" for Ramkrishna to contend that sharing sensitive information such as dividend pay-out ratios, business plans and the performance appraisals of NSE employees did not cause harm.
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