NSE revamps board; appoints Mohandas Pai, 2 others as directors

Former secretary at the Ministry of Corporate Affairs Naved Masood and KPMG India's former deputy CEO Dinesh Kanabar have been included on NSE's board

Top stock exchange NSE has revamped its board, appointing three new public interest directors including chairman of Manipal Global Education Services and Infosys' former director Mohandas Pai.

Besides, former secretary at the Ministry of Corporate Affairs Naved Masood and KPMG India's former deputy chief executive Dinesh Kanabar have been included on the NSE's board as public interest directors.

Pai, who was formerly Infosys' CFO as well, is one of the noted personalities in the startup eco-system in India. He is also co-founder of venture capital firm Aarin Capital and has been active in working with regulators to improve the country's business climate.

The board of the National Stock Exchange of India has 10 directors with Ashok Chawla, former chief of Competition Commission of India, as its chairman till January.

Chawla took charge from S B Mathur as NSE board chairman in May.

Besides Mathur, three public interest directors - YH Malegam, KR S Murthy and S Sadagopan - had also completed their terms recently.

Former NSE managing director and chief executive Ravi Narain is the vice chairman of the exchange's board of directors, which also includes Chitra Ramkrishna, the present serving MD and CEO of the exchange.

Other directors on the NSE board are General Atlantic advisory director Abhay Havaldar, Azim Premji Investment CIO Prakash Parthasarathy, former executive director Sebi Dharmishta Raval and former judge of the Supreme Court justice B N Srikrishna.

Recently the NSE board of directors had taken the crucial decision of filing initial documents to list the exchange on the capital markets by January, 2017.

It has also set a timeline of April next year for applying for an overseas listing.

Other than this the board had also formed a listing committee to accelerate the listing process and assist the Managing Director and Chief Executive in this.