Considered the wealthiest Buddhist monastery in India, the Hemis Monastery was established in 1672 by Sengge Namgval, Ladakh's most illustrious monarch, and every June hosts the Hemis Festival, a two-day commemoration of the birth of Guru Padmasambhava, the founder of Tantric Buddhism in Tibet. The highlight of the festival is the Masked Dance, performed by lamas, depicting the triumph of good over evil.