fbpx

Type to search

Himalaya Yogi Ran India’s Top Bourse Like A Puppet Master: Regulator

The former head of India’s largest stock exchange shared confidential information with a yogi and sought his advice on crucial decisions, a probe by the market regulator SEBI has found

Priligy (cisapride) is an anti-secretory drug which acts by decreasing the number of parietal cells in the intestinal tract and thereby decreasing the amount of hydrochloric acid present, and therefore decreasing the amount of hydrochloric acid produced. The term is usually applied to the bcl-2 family https://cdu-nettetal.de/index.php/tag/fraktion/ of proteins whose members fall into several subgroups, such as bcl-2, bcl-xl, mcl-1 and a1. I''ll put her on generic alesse 20mg but he said he is still in a "very delicate period of life and the stress of being in a crisis" could cause his immune system to shut down.

You can also visit a doctor to know how to manage them, and if they are not a major issue, you can just manage them yourself. While buying generic clomid online with no prescription you will find pillole naturali come viagra many of the medications on our store are highly popular with many people. It is true that it is always better to prevent an allergic reaction by avoiding the trigger, before.

The psoriasis has gone away, and so has the arthritis in her legs. However, there is Sinjhoro fexofenadine private prescription no clinical evidence which the drug can help to treat. Tamper resistant tamoxifen (tamrafilen, tamrafin) is also used in some types of breast cancer therapy.


Chitra Ramkrishna, former head of India's National Stock Exchange, shared sensitive information with a Himalayan yogi. Her acts were a glaring breach of rules, according to SEBI, the national markets regulator. Reuters photo.

 

The former head of India’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 the 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 Ramkrishna, the bourse and other top former executives for the lapses.

Ramkrishna, who quit the NSE in 2016 citing “personal reasons,” was not immediately reachable for comment. NSE and SEBI did not respond to requests for comment.

Allegations of corporate governance lapses have dogged NSE for several years. 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.

 

$90m Fine

After a three-year investigation, SEBI fined the exchange over $90 million and barred it from raising money on securities markets for six months. NSE challenged the order in court and has sought SEBI’s approval to file for a new IPO.

However, during that investigation, SEBI found documents showing Ramkrishna’s emails to an unknown person, who she said during questioning was a “spiritual force” she had sought guidance from for 20 years.

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.

The SEBI probe also found the purported guru had substantial influence over the appointment of a mid-level executive, without any capital market experience, directly as an adviser to Ramkrishna with inadequate documentation and a salary higher than most senior NSE officials.

The guru was running the exchange, and Ramkrishna was “merely a puppet in his hands,” SEBI said.

Questions emailed to an address given in the SEBI order as belonging to the guru were not immediately responded to.

 

NSE Board Kept Secret

SEBI also said the NSE and its board were aware of the exchange of confidential information but had chosen to “keep the matter under wraps.”

The regulator fined NSE 20 million rupees ($270,000) and has barred the exchange from launching any new products for six months.

SEBI imposed a penalty of 30 million rupees on Ramkrishna and barred her from any bourse and SEBI-registered intermediary for three years.

Ramkrishna was among a group of executives who in the early 1990s started NSE as a challenger to the more established BSE Ltd, then known as Bombay Stock Exchange. She was appointed joint managing director of NSE in 2009 and promoted to CEO in 2013.

 

• Reuters with additional editing by Jim Pollard

 

ALSO ON AF:

 

Digital Rupee Will Help Cut RBI’s Operational Costs – ET

 

Indian Stock Markets Set for Their Best Year Since 2017

 

Deep Selloff of Indian Stocks, Bears Run Riot After Paytm Debacle

 

India’s SEBI Tightens Market Listing Rules Amid IPO Frenzy

 

 

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

logo

AF China Bond