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IDBI case: BSE Chairman refuses to comment on holding office

Press Trust of India  |  Kolkata 

BSE S today refused to make a direct comment on his continuation in the post even after he was named by the CBI in its FIR in the Rs 600 crore loan fraud case.

"God is there," said in his short reaction when asked if he will continue as the of the country's leading bourse.

The CBI had also named former promoter C Sivasankaran and his companies in the loan fraud case.

was in the city to take part in an interactive session on stock market with members of Merchants' Chamber of Commerce and Industry today.

Sources said BSE has not received any feedback yet on the suggestions sought from market regulator SEBI on the issue.

The bourse had appointed Ravi as the of the the board in November 2017.

This is the second case in which the CBI has also held responsibility of bad loan on independent directors. Earlier, the agency had registered a case against and two independent directors in loan default case.

During his deliberations, Ravi said corporate governance can be strong if the role between functional directors and independent directors is clear. He, however, did not elaborate on it.

He said raising capital is going to be a constraint in future owing to geo-politics and role of data analytics, and robotics in the financial sector would be immense.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 13 2018. 21:35 IST