Market regulator Securities and Exchange Board of India (Sebi) on Tuesday slapped a notice that demands Rs 2 Crore from Ex-NSE Ravi Narain due to a governance issue matter. According to the reports from SEBI, a sum of Rs 2,06,01,000/- (Rupees Two Crore Six Lakh One Thousand) that covers interest amount, other costs, and expenses is pending at the Narain’s end. SEBI has issued notices to all the ex-NSE to pay the amount within five days of the notice or else the amount will be extracted in the following ways:
- attachment and sale of your movable property
- attachment of your bank accounts;
- attachment and sale of your immovable property;
- arrest and detention in prison;
- appoint a receiver for the management of your movable and immovable properties.
Narain worked as a managing director and the CEO of the National Stock Exchange from April 1994 till March 2013. His tenure is considered to be the longest among the other NSEs.
