NSE seeks conditional nod from Sebi on Limaye's appointment as MD & CEO

NSE aims to settle unfair access probe with regulator and is open to monetary penalty, say sources

The National Stock Exchange (NSE) has sought conditional approval from the Securities and Exchange Board of India (Sebi) on the appointment of Vikram Limaye as its managing director (MD) and chief executive officer, said sources.

NSE has been waiting since March for Sebi to approve this. Limaye is also on the Supreme Court-appointed Committee of Administrators (COA) to run the Board of Control for Cricket in India. Sebi is concerned at Limaye's dual roles and wants him to step down from the COA if he is to take charge at the country's largest bourse.

“The issue is falling between two