Limaye's BCCI role to be over in August, NSE tells Sebi

Seeking to fast-track Sebi's approval for appointing Vikram Limaye as its new CEO, leading exchange NSE has informed the regulator that his involvement with cricket body BCCI would be over by August, sources said.

In case Limaye is required to remain associated beyond August with the BCCI, as member of the Committee of Administrators (CoA) appointed by the Supreme Court, he would approach the apex court to recuse himself from that role, the exchange has informed the regulator.

Sources said the exchange is expecting the latest move to help it get the final go-ahead from the Securities and Exchange Board of India (Sebi) for Limaye to take charge.

When contacted, an NSE spokesperson declined to comment, while there was no official word from Sebi as well.

NSE, which has been without a full-time CEO ever since Chitra Ramkrishna quit in December, named Limaye as its next chief in February. However, he has not been able to take charge due to pending approval from Sebi.

The appointment of Limaye, who was earlier Managing Director of IDFC Ltd, got approval of the NSE's shareholders in March.

Among other issues, the regulator had sought clarity about Limaye's role as the CoA member at the BCCI (Board of Control for Cricket in India) to ensure there was no conflict of interest.

Sources said that the exchange informed Sebi on Monday that Limaye's involvement with the BCCI would be over by August and even if he is required to remain in the role as the CoA member, he would ask the Supreme Court to recuse himself. pti