NSE CEO Vikram Limaye

The NSE will now have to obtain shareholders' nod before Chauhan can take charge

NSE had started MD & CEO selection process in March. Vikram Limaye was eligible for another five-year term but opted out

'Vikram Limaye recused himself from the very beginning,' tweets the exchange

Candidates are required to send their applications by April 23 and it has appointed Egon Zehnder to oversee the process.

NSE Managing Director and CEO Vikram Limaye on Wednesday said that he will not seek a second term at the stock exchange when his five-year term ends in July. This comes amid the National Stock Exchange (NSE) facing the regulatory probe in a case related to governance lapses at the bourse as well as in the co-location matter. "I have informed the board that I am not interested in pursuing a second term and will therefore not be applying and participating in the process that is underway. My tenor ends on July 16, 2022," Limaye said in a statement. The exchange's MD & CEO said, "I have done my best to lead the organisation in a very difficult period and to stabilise, strengthen and transform the NSE. We have come a long way in terms of controls, governance, technology, regulatory effectiveness and business growth." The NSE recently invited applications from candidates for the role of MD and CEO. The applications have been invited from candidates having IPO (initial public offering) ..

The exchange has invited applications from candidates having IPO experience for the role of the top post before March 25

NSE's Managing Director and CEO Vikram Limaye told BS that the exchange will be ready to extend derivatives timings from October 1