Moneycontrol
you are here: HomeNewsBusiness
Last Updated : Jan 11, 2019 09:33 PM IST | Source: Moneycontrol.com

Ashok Chawla resigns as NSE chairman with immediate effect

Moneycontrol was the first to report in July that market regulator Securities and Exchange Board of India (SEBI) would take cognisance of the matter and look at whether or not to allow Chawla to continue holding the post.

Moneycontrol News @moneycontrolcom

Moneycontrol News

Ashok Chawla has resigned as the chairman of the National Stock Exchange of India (NSE) with immediate effect after the Centre granted sanction to prosecute five people including Chawla accused in the Aircel-Maxis case.

Chawla, who has been the NSE Chairman since 2016, was the former Secretary of Economic Affairs and was named in the case along with former finance minister P Chidambaram and his son Karti.

Moneycontrol had first reported in July 2018 that market regulator Securities and Exchange Board of India (SEBI) would take cognisance of the matter and look at whether or not to allow Chawla to continue holding the post.

As per revised rules, A class government officials covering positions of joint secretary and above cannot be prosecuted without approval of the Centre, whether or not the officials are still in active service.

Chawla was named in a charge sheet filed by the Central Bureau of Investigation (CBI) on July 19 in the Aircel-Maxis case.

The charge sheet filed at Delhi’s Patiala House Court named former finance minister P Chidambaram and his son Karti Chidambaram as accused in the Aircel-Maxis deal. Overall, the CBI had named 18 individuals under section 120-B read with section 7, 12, 13(2) read with 13(1) D of the Prevention of Corruption Act.
First Published on Jan 11, 2019 08:09 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant