Today the Securities and Exchange Board of India has pulled its sleeve up to form an unbiased committee to look into the corporate governance discrepancies carried out by the National Stock Exchange of India whilst former CEO Chitra Ramkrishna and her associate Anand Subramanian were working at the National Stock Exchange of India.
This committee will overlook all the details of the discrepancies carried out by Chitra and ensure to strengthen the corporate governance policies and regulate new ways to function going forward with no room for any error in the future; reported a group of people who didn’t want to be named.
This unbiased committee will gauge the lapses of the internal management and compliance approaches at the country’s largest stock exchange.
The committee will be guided by G Mahalingam, a yesteryear full-time director at the Securities and Exchange Board of India and Chaired the Advisory Committee for Securities and Exchange Board of India’s Investor Protection and Education Fund. That’s not all Mahalingam also served as a regional director of the RBI and was a visiting lecturer at the National Institute of Securities Markets, an education and training initiative by the Securities and Exchange Board of India.
Looking back, the Securities and Exchange Board of India had accused Chitra Ramkrishna and her associates at the National Stock Exchange of severe governance lapses and alleged her involvement in a co-location case, bringing to light her extreme violations of trust and abuse of power during her tenure in February this year.