January 11, 2019 / 3:01 PM / in 5 months

NSE says its chairman has resigned due to recent legal developments

The new logo of National Stock Exchange (NSE) is seen on the facade of its building in Mumbai, India, August 16, 2018. REUTERS/Francis Mascarenhas/File Photo

MUMBAI (Reuters) - Ashok Chawla has resigned as the chairman of the National Stock Exchange Of India (NSE) with immediate effect “in light of recent legal developments,” the exchange said on Friday.

Chawla, who had been the chairman of India’s biggest stock exchange since 2016, has been charged with corruption by the Central Bureau of Investigation (CBI), according to local media reports.

Chawla did not immediately respond to a request for comment.

He also recently resigned as Yes Bank’s non-executive independent chairman.

Reporting by Sankalp Phartiyal; Editing by Elaine Hardcastle

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