January 11, 2019 / 3:45 PM / 7 months ago

India's NSE says its chairman has resigned due to recent legal developments

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 India’s federal police, according to local media reports.

Chawla did not immediately respond to a request for comment.

He also recently resigned as Indian lender Yes Bank’s (YESB.NS) non-executive independent chairman.

Reporting by Sankalp Phartiyal; Editing by Elaine Hardcastle

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