NEW DELHI LETTER
The shock wave continues to shake the Indian business world. The revelations made by the Securities and Exchange Board of India (SEBI), the Indian market regulator, in early February are overwhelming. Chitra Ramkrishna, the former boss of the National Stock Exchange of India (NSE), the country’s largest stock exchange, was in fact a “just a puppet” under the thumb of an alleged Himalayan guru, according to an investigation by the regulator. Chitra Ramkrishna, who resigned in 2016 over ” personal reasons “shared with this yogi confidential information and sought his advice before making crucial decisions.
The details of the 192-page investigative report are staggering. Between 2013 and 2016, Chitra Ramkrishna exchanged with this mysterious guru by means of a simple email address: [email protected]. According to her, the mystical “manifested as it pleased” and she does “did not have its geographical coordinates”. First woman to have managed an Indian Stock Exchange, from 2013, she shared the commercial and financial objectives of her company, the dividend tables, the financial results or the performance of the employees.
Woman of the Year 2013
The emails sent by the yogi, also called “Sironmani” (“the exalted one”), proposed in particular to this 59-year-old woman that they find themselves in tax havens: in the Seychelles, Singapore or Mauritius in order to of ” relax “. “If you know how to swim, we could enjoy a sea bath in the Seychelles and rest on the beach”he wrote on February 17, 2015. In another e-mail, the spiritual master compliments his interlocutor on his appearance and allows himself a “free advice”. “You must learn how to braid your hair in different ways, which will make your style interesting and attractive”, he dares in his email.
The former queen of the stock market, named woman of the year 2013 by the magazine Forbes India, would have met “Sironmani” on the banks of the Ganges, almost twenty years ago. She asked him about “many personal and professional questions”according to its statements to the market regulation authority. “As we know, senior leaders often seek informal advice from coaches, mentors or other seniors in this industry. In the same way, I felt that his advice would help me better fulfill my role,” she advanced in her defense.
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