Business

Ashok Chawla Quits As NSE Chief Over Aircel-Maxis Case

HARSH RANJAN | 0
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| January 13 , 2019 , 14:37 IST

Former finance secretary to the central government Ashok Chawla resigned on Friday as the chairman of the National Stock Exchange (NSE).

NSE is the largest bourse in India in terms of turnover, Chawla resigned after CBI got government consent to prosecute him on alleged corruption charges relating to the Aircel-Maxis case.

Earlier, In November, Chawla had resigned as chairman of Yes Bank after CBI named him in the charge sheet in the same case.

He was appointed to NSE as part of the clean-up process following the co-location scam.

NSE said in a statement that “Ashok Chawla has resigned as public interest director/ chairman of the board of directors of the NSE with immediate effect in light of recent legal developments.”

Chawla was appointed NSE chairman as part of the clean-up process after the bourse was hit by a case of preferential treatment to some select brokers for high-frequency trading (HFT) by giving them faster access from its trading servers.

Along with Chawla, CBI has received government nod to prosecute four other former and serving bureaucrats. They are Ashok Jha, Kumar Sanjay Krishna, Dipak Kumar Singh, and Ram Sharan, a PTI report said.

ALSO READ: Aircel-Maxis Case: P Chidambaram's Interim Protection From Arrest Extended Till February 1

Former finance minister P Chidambaram and his son Karti are co-accused in the case.

Last week, A Delhi court extended former Union Minister P Chidambaram and his son Karti Chidambaram's interim protection till February 1 in the Aircel-Maxis scam.

Special CBI Judge O P Saini put up the matter for February 1 after Solicitor General Tushar Mehta, appearing for the CBI, told the court that the ongoing probe was about to be completed.

The case relates to alleged irregularities in grant of FIPB approval in the Aircel-Maxis deal.