NSE Chairman Ashok Chawla steps down amid crackdown in Aircel-Maxis case

The National Stock Exchange (NSE) Chairman Ashok Chawla resigned from his position on Friday. His resignation came hours after the Central government gave a go ahead to CBI to prosecute six former Foreign Investment Promotions Board (FIPB) officials in the Aircel-Maxis case. The exchange in a statement said that Chawla resigned "in light of recent legal developments" but did not go into details. Chawla had previously served as finance secretary, and had taken the job of NSE Chairman on March 28, 2016. Among other roles, he had served as Civil Aviation Secretary and Chairperson of Competition Commission of India (CCI). Chawla last year had quit as the Chairman of Yes Bank.