Market regulator Securities and Exchange Board of India (Sebi) is looking into the eligibility of Ashok Chawla to continue as the chairman of the National Stock Exchange (NSE) after the Central Bureau of Investigation (CBI) mentioned him in a chargesheet for allegedly being involved in Aircel-Maxis case, Mint reported.
According to the report, in July, the agency filed a chargesheet naming 18 individuals, including Chawla. In October, OP Saini, special CBI judge, had given a deadline of November 26 to get government’s approval for going ahead with the prosecution of Chawla and others, added the report.
Chawla, who is also a former finance secretary, may have to resign as the chairman of the stock exchange if the agency gets the go-ahead to prosecute him, sources told the paper.
The markets regulator received the complaints in October and started its scrutiny the same week, sources added.