Monday 21 January 2019
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Ashok Chawla quits as NSE chairman after CBI gets sanction to prosecute him in Aircel-Maxis case

Former bureaucrat Ashok Chawla Friday resigned as chairman of the National Stock Exchange with immediate effect, the bourse said, hours after the CBI said the Centre has granted sanction to prosecute him in the Aircel-Maxis case. The exchange while making the announcement Friday night did not provide specific details. In a statement, the bourse said Chawla has resigned as Public Interest Director/ Chairman of the Board of Directors of the National Stock Exchange of India Ltd with immediate effect in light of recent legal developments . The Securities and Exchange Board of India (Sebi) has been probing the alleged lapses in high-frequency trading offered through NSE s co-location facility. It was also investigating whether some brokers had unfair access to the exchange s co-location facility. A former finance secretary, Chawla took over as the chairman of the exchange on March 28, 2016. He had also served as civil aviation secretary and chairperson of the Competition Commission of ...

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