Kolkata: After Ramachandra Guha, Vikram Limaye is too all set to resign from the Supreme Court appointed Committee of Administrators. The veteran banker is all set to become the Managing Director and CEO of National Stock Exchange (NSE).
The head of the CoA, former Comptroller and Auditor General Vinod Rai said that Limaye would hold on to his position till the 14th of July when the Supreme Court would reopen. Following that, Limaye’s resignation would be complete and thus he would be able to begin his duties at the NSE.
Also, the Securities and Exchange Board of India (SEBI) while confirming his appointment as the head of the NSE and said that Limaye would be eligible to do so, provided he gives up his role at the Committee of Administrators.
“Vikram is very much a part of the COA as of now. Obviously, once the Supreme Court reopens on July 14, he will have to relinquish his role in COA since he will be heading the NSE. Till July 14, he is a part of the COA. After that, he will appeal to the Supreme Court to be relieved from his duties,” said Vinod Rai.
In a press release, SEBI said, “Sebi has approved the appointment of Mr Vikram Limaye as the MD and CEO of the National Stock Exchange of India limited , subject interalia to his being relieved from his BCCI (COA) assignment. The appointment will take effect from the date of joining.”
With Limaye’s resignation, the Committee of Administrators, which was initially a four member body has now been reduced to two members, after noted historian Ramachandra Guha resigned some time ago citing the reason that the Committee wasn’t able to implement the reforms suggested by the Lodha committee. Now, only former women’s cricketer Diana Edulji and head Vinod Rai remain in the CoA.
When asked whether he had any replacements for Guha and Limaye in mind, Rai said, “No, that will have to be decided by the Supreme Court.”
Rai has however called for a meeting of all the BCCI state units before the BCCI Special General Meeting (SGM) on June 26 in Mumbai.
Said Rai, “I will again meet the office-bearers ahead of the Special General Meeting. The implementation of Lodha Panel recommendation will once again be discussed.”
The BCCI recently has been given a deadline of June 12 by the CoA to submit their respective responses with regard to the Deloitte audit report and also the list of qualified office-bearers.
However, only six units have submitted their responses with regard to the Deloitte audit report and only 12 units have submitted the list of the eligible office-bearers so far.
(With inputs from NDTV)