Chawla served as NSE chairman between March 2016 and January 2019 and shot a letter to Sebi in 2018 saying Anand Subramanian is the ‘mysterious yogi’ in NSE scam case.
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.
His exit could be the outcome of the likely conflict of interest over his multiple roles as NSE Chairman and the board member of other companies such as Yes Bank and Jet Airways.
Existing regulations allow stock exchange board members to represent boards of other companies, if relevant disclosures are made
Overall, the CBI has 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.
In his letter, which comes a day after a technical glitch forced the bourse to halt trading for over three hours, Chawla said yesterday's situation was handled effectively which is indeed the NSE's responsibility as the largest exchange.
In a short yet clearly worded letter addressed to NSE employees, Chairman Ashok Chawla has acknowledged that the technical snag, which disrupted trading for three hours yesterday, is a ‘Black Swan event.’
NSE, the country's largest exchange, had applied in December for an eagerly awaited IPO that bankers have said could raise as much as $1 billion.
Reuters had reported last week that NSE's IPO process was on track despite the unexpected resignation of CEO Chitra Ramkrishna, with plans to file a filing with the Securities and Exchange Board of India (SEBI) by January.
In an interview to Business Standard, National Stock Exchange (NSE) Chairman Ashok Chawla said there may be marginal delay in the initial public offering (IPO) of NSE after the exit of CEO and Managing Director Chitra Ramkrishna. The IPO was likely to be filed sometime in January.
Yes Bank said Chawla's appointment is for a period of three years, with effect from the date of joining the bank.
A "credible road map" has been put in place for the listing of NSE, Chairman Ashok Chawla has said, adding that it will provide a market-determined benchmark for its share price and enhance the level of corporate governance.
Ashok Chawla, the former chief of fair trade regulator CCI, has become the chairman of the National Stock Exchange.
Reuters reported last month that NSE, India's biggest exchange, had nominated Chawla as its new chairman after previous holder S.B. Mathur stepped down upon completing his tenure.
Earlier this month, NSE announced the induction of Chawla and Dharmishta Raval into its board as public interest directors.
The National Stock Exchange (NSE) has nominated Ashok Chawla, the former head of the Competition Commission of India, to become its new chairman, three sources close to the matter told Reuters.
"The board of Directors have further approved the proposal to seek approval from RBI for appointment of Chawla as future non-executive part-time chairman of the bank, upon expiry of term of the current chairperson in October 2016," it said.
The Council welcomed former Competition Commission chief Ashok Chawla as its new Chairman. The Council looks forward to his leadership of this important institute.
CCI‘s Ashok Chawla Era!
In an interview with CNBC-TV18's Menaka Doshi, CCI chairman Ashok Chawla promised faster clearance of M&A deals and offered a glimpse into the pending revisions in merger control regulations
Competition Commission of India (CCI) chief Ashok Chawla is likely to retire in March and sources say DIPP Secretary Amitabh Kant is the frontrunner.
Besides, the fair trade watchdog is working on ways to ensure that decisions regarding clearance for mergers and acquisitions (M&A) are taken within 30 days of receiving the proposal.
Terming the Bill as anti-trader, General Secretary of Vyapar Mandal Ashok Chawla in his address said, the proposed GST Bill will enhance the financial crisis of the traders as they are already facing hardships due to online trading.
On the matter of search engine Google's alleged anti-competitive practices, Ashok Chawla, Chairman, Competition Commission of India (CCI) said that it will take quite “some time†before there is any finality on the matter.
The watchdog had asked its investigation arm Director General (DG) to look into the matter of airfares on three previous occasions but did not find any evidence of fair trade norm violations.