NSE chairman Ashok Chawla resigns with immediate effect

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 the Central Bureau of Investigation (CBI), according to local media reports.

Chawla did not immediately respond to a request for comment.

He also recently resigned as Yes Bank's non-executive independent chairman.

The CBI in July named him in a chargesheet related to the corruption case involving telecom operator Aircel and its Malaysian investor Maxis.

An Indian Administrative Service officer of the 1973 batch, Chawla has held several senior positions in the government, including as the finance secretary. He was also previously the chairman of the Competition Commission of India.