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Himalaya yogi ran India’s top bourse as puppet master, regulator says

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 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.

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