NSE chief quits, to face prosecution in Maxis case

MUMBAI: Ashok Chawla, a former finance secretary to the central govt, resigned on Friday as the chairman of the National Stock Exchange (NSE), the biggest bourse in India in terms of turnover, after CBI got govt consent to prosecute him on alleged corruption charges in relation to the Aircel-Maxis case. Former finance minister P Chidambaram and his son Karti are co-accused within the case. In mid-November, Chawla had resigned as chairman of Yes Bank after CBI named him within the chargesheet in the same case. He was appointed to NSE as a part of the clean-up procedure following the co-location rip-off.


NSE, in a communication, stated, “Ashok Chawla has resigned as public interest director/ chairman of the board of directors of the NSE with instant impact in mild of new felony traits.”


Chawla was appointed NSE chairman as a part of the clean-up procedure after the bourse was hit by way of a case of preferential treatment to a few make a choice agents for top frequency trading (HFT) by way of giving them sooner get admission to from its trading servers. The case, also known as NSE co-location case, resulted in the resignation of several board members of the bourse together with Chitra Ramakrishna, the then managing director, and Ravi Narain, then vp.


Along with Chawla, CBI has received govt nod to prosecute 4 different former and serving bureaucrats. They are Ashok Jha, Kumar Sanjay Krishna, Dipak Kumar Singh, and Ram Sharan, a PTI document stated.
NSE chief quits, to face prosecution in Maxis case NSE chief quits, to face prosecution in Maxis case Reviewed by kailash soni on January 13, 2019 Rating: 5
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