Irregularities in Appointment of NSE Chief Strategic Adviser: Govt

The government said on Tuesday that irregularities were observed in the appointment of chief strategic advisor in the NSE during the tenure of a former managing director and chief executive officer and that the appointment was made without following due process.

Sebi has informed that an ex-MD and CEO of NSE had sought guidance from a “siddha purusha/yogi” minister of state for finance Pankaj Chaudhary said in a written replay in Rajya Sabha.

The matter relates to former NSE CEO Chitra Ram- Krishna and group operating officer Anand Subramanian, who is currently under the custody of the CBI, as the agency is probing them in the co-location scam.

During the investigation by Sebi, it was found that certain emails on various matters were exchanged by that MD and CEO with the yogi, he said.

“Sebi has informed that irregularities were observed in the tenure of that ex-MD and CEO of NSE. This appointment was made without following due process of appointment,” said Chaudhry.

Accordingly, Sebi imposed monetary penalty and other restrictions on that ex-MD and CEO and the then CSA for violation of provisions of Sebi Act, 1992 and SCRA, 1995/Securities Contracts (Regulation) Act.

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