SEBI approve appointment of Ashish Kumar Chauhan as the next MD & CEO of NSE
The Securities and Exchange Board of India (SEBI) has approved the name of Ashish Kumar Chauhan as the MD & CEO of NSE. Mr. Chauhan is currently the managing director & CEO of BSE formerly Bombay Stock Exchange and will replace outgoing MD & CEO Vikram Limaye, whose term ends on July 16. Although Limaye was eligible for a reappointment, he did not seek extension at the NSE.
Mr. Chauhan is one of the founders of the NSE where he worked from 1992 to 2000. At the NSE, he was involved in setting up India’s first fully automated screen-based trading system and first commercial satellite communications network. He will have to implement fair and ethical corporate and market governing practices at the NSE, which was hit by a series of scandals. SEBI had earlier penalised NSE’s Ravi Narain and Chitra Ramkrishna for alleged lapses in corporate governance during the appointment of its group operating officer Anand Subramanian. In 2019, NSE was also penalised for giving preferential access to some stock brokers between 2012-2014 through their co-location facility.
