June 9, 2017 / 12:13 PM / a year ago

India's SEBI conditionally approves appointment of new NSE CEO

MUMBAI, June 9 (Reuters) - India’s market regulator on Friday approved the appointment of Vikram Limaye, head of infrastructure lender IDFC Ltd, as the next chief executive of National Stock Exchange, subject to his resignation from a cricket committee.

The conditional approval from the Securities and Exchange Board of India (SEBI) comes four months after the country’s largest bourse had nominated Limaye’s name for the post, an unusually long time.

Sources familiar with the matter have told Reuters SEBI had been concerned that the executive’s time would be split if he were to remain a member of a Supreme-Court appointed committee to supervise the country’s cricket body after a 2013 fixing scandal.

No specific date was provided as to when Limaye would take over as CEO. (Reporting by Abhirup Roy; Editing by Rafael Nam)

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