Former Finance Secretary Ashok
Chawla (Retd Gujarat cadre IAS) resigned as chairman of the National Stock
Exchange with immediate effect - hours after the CBI said the Centre has
granted sanction to prosecute him and four other civil servants in the
Aircel-Maxis case. In a statement, the NSE said
Chawla 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. 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 India (CCI), among
other roles. Chawla quit as Yes Bank chairman
in November last year. The CBI earlier in the day on
Friday informed a Delhi court that the Centre has granted sanction to prosecute
five people, including serving and former bureaucrats, accused in the
Aircel-Maxis case involving Congress leader and ex-Union minister P Chidambaram
and his son Karti. The then members of the Foreign
Investment Promotion Board (FIPB), against whom sanctions have been procured,
are the then secretary (economic affairs) Ashok Jha, the then additional
secretary Ashok Chawla, the then joint secretary in finance ministry Kumar
Sanjay Krishna, the then director in the ministry Dipak Kumar Singh, and the
then undersecretary in the ministry Ram Sharan. Of the five, three are working
with various government departments while two have retired. The submissions were made before
Special Judge O P Saini who extended till February 1 the interim protection
from arrest granted to Chidambaram and Karti in the Aircel-Maxis cases filed by
the CBI and the ED. The CBI had on November 16 last
year, informed the court that similar nod was procured for P Chidambaram. There
are 18 accused in the case.
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Chawla resigns as NSE chairman
By IndianMandarins - 2019-01-11 09:47:54
Former Finance Secretary Ashok
Chawla (Retd Gujarat cadre IAS) resigned as chairman of the National Stock
Exchange with immediate effect - hours after the CBI said the Centre has
granted sanction to prosecute him and four other civil servants in the
Aircel-Maxis case.
In a statement, the NSE said Chawla 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.
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 India (CCI), among other roles.
Chawla quit as Yes Bank chairman in November last year.
The CBI earlier in the day on Friday informed a Delhi court that the Centre has granted sanction to prosecute five people, including serving and former bureaucrats, accused in the Aircel-Maxis case involving Congress leader and ex-Union minister P Chidambaram and his son Karti.
The then members of the Foreign Investment Promotion Board (FIPB), against whom sanctions have been procured, are the then secretary (economic affairs) Ashok Jha, the then additional secretary Ashok Chawla, the then joint secretary in finance ministry Kumar Sanjay Krishna, the then director in the ministry Dipak Kumar Singh, and the then undersecretary in the ministry Ram Sharan. Of the five, three are working with various government departments while two have retired.
The submissions were made before Special Judge O P Saini who extended till February 1 the interim protection from arrest granted to Chidambaram and Karti in the Aircel-Maxis cases filed by the CBI and the ED.
The CBI had on November 16 last year, informed the court that similar nod was procured for P Chidambaram. There are 18 accused in the case.
