The Securities and Exchange Board of India is yet to approve IDFC MD Vikram Limaye’s appointment as the CEO of National Stock Exchange (NSE) as it is concerned about his other role — managing the affairs of BCCI, the richest cricket body.
The markets regulator has asked for clarifications about Limaye’s role and is reviewing the application, people close to the development said. It believes he may not be able to do justice as the head of the country’s biggest stock exchange if he continues in his SC-appointed role as a member of the four-member panel managing the affairs of Board of Control for Cricket in India, says an Economic Times report.
“Both organisations are facing a crisis, so Sebi is looking at whether he (Limaye) would be able to give his undivided attention to NSE,” said a person familiar with the development. In January this year, the apex court chose Limaye along with Vinod Rai, former comptroller and auditor general (CAG), prominent historian Ramachandra Guha and former cricketer Diana Edulji to implement the Lodha panel recommendations.