VIKRAM LIMAYE (50), has stepped into the hot seat of the NSE and has hit the ground running filing a consent application with Sebi (in a case which says it gave preferential access to some high-frequency traders and brokers) even as the Nifty scaled a new peak and crossed the five-figure mark. The CEO & MD of NSE spoke to Clifford Alvares and Raghu Mohan on various steps the exchange has taken in the recent past to set things right at the NSE.
Q: How have your first few weeks been?
You have hit the ground running and the markets have hit 10000. It has been hectic. Resolving the regulatory issue is a priority for which I have filed a letter with Sebi for settlement under the consent process. We have also filed a report with Sebi relating to the trading halt. I am working on improving stakeholder relationships with Sebi, government, clients, shareholders, media and employees.
Q: What did you say in the consent letter? What are the terms of settlement?
It is an application to settle the matter without admission of guilt or wrong doing. The amount and terms would be mutually agreed based on discussions with Sebi.
Q: What are the grounds for the consent application?
NSE is an institution of national importance. You don’t want overhang of investigations for too long which could be the case if this was to go through the court process. We would like to resolve the issue and move on and that I believe will also be in the best interests of markets and investors domestically and globally.
Q: What do you think the learnings are from this issue?
I just think that if the issue was managed better it would not have escalated to this level. The discussions with the regulator could have been handled better relating to the technology and any gaps/lapses in process and documentation could have been fixed.
Q: So you are having a re-look at internal systems?
Yes, we are looking at the systems, controls and processes so that management and the board are comfortable that the foundation of the organisation is strong.
Q: Have all the 14 employees filed consent?
There are 11 out of the 14 who have filed so far.
Q: How long do you think the whole process is going to last?
Bu hikaye Businessworld dergisinin August 19, 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Businessworld dergisinin August 19, 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Technology, AI Driving Warehousing Sustainability
Anshul Singhal on how Welspun One is rapidly transforming Grade-A logistics and industrial parks across India, offering integrated fund development and asset management for large-scale warehousing solutions
DECODING RETAIL'S NEXT FRONTIER
As brands pivot towards omnichannel ecosystems and startups challenge legacy frameworks, the focus sharpens on experiential retail, sustainability and data-driven personalisation.
SORORITY OF WOMEN OF METTLE
Awinter afternoon in mid-December found quite a crowd at the Oxford Book Store on Connaught Place, as bibliophiles congregated at a corner to listen to three women authors, diverse in their passions, but drawn together by an urge to tell their story.
THE LEGACY OF THE AMARNATHS
IN NOVEMBER 2017 the management committee of the Delhi Cricket Association named the eastern stand of the Feroze Shah Kotla ground the Mohinder Amarnath stand.
PUTTING THE POWER IN THE POWERHOUSE
The Asus ExpertBook P5 is powered by an 8-core 8-thread Intel Core Ultra 7 Series 2 processor that clocks a maximum speed of 4.8 GHz, but it does not have hyperthreading. It is light weight, with a smooth glass touch pad. The laptop almost has all the I/O ports you could possibly need in a business laptop, making it an extremely lucrative option for professional computing, says
"We must be aware of our energy and water consumption"
BW Businessworld caught up with actor, philanthropist, and climate warrior BHUMI PEDNEKAR to chat about climate change and more.
"Cooking is a passport to the world"
In conversation with renowned CHEF MANJIT GILL, Advisor at Kikkoman India and President, Indian Federation of Culinary Associations (IFCA). As the former Corporate Chef of ITC hotels, Chef Gill has helped shape iconic restaurants, such as the Bukhara, Dum Pukht, and Dakshin. He has had the privilege of serving former American Presidents Barack Obama, Bill Clinton, George Bush, and the French, Canadian, British and German premiers. In 1992, Chef Gill had the opportunity of being invited to cook for Prince Charles and Lady Diana, at the Palace of the Maharaja of Jaipur. He was awarded the Lifetime Achievement Award from the Ministry of Tourism in 2007.
Strengthening Middle Management for Organisational Resilience
WHAT HOLDS AN organisation together in chaos? Is it visionary leadership, cuttingedge strategies, or robust technology?
The Retail Trailblazers
A look at companies that are making a positive impact on India's growing retail sector with their future fit business and marketing strategies.
Driving Conscious Consumerism
VIDIT JAIN, Co-founder of Kindlife, is leading the charge in revolutionising the intersection of technology and conscious consumerism.
