The National Stock Exchange of India Ltd or NSE on Friday received Securities and Exchange Board of India (sebi) approval to appoint Girish Chandra Chaturvedi, a retired IAS Officer and former Secretary, Ministry of Petroleum and Natural Gas, Government of India, as the new Chairman of NSE, said NSE in a press statement on Friday.

He is joining after Ashok Chawla former Chairman of NSE stepped down in the middle of charges of corruption in the Aircel-Maxis case. Chawla stepped down on 11 January after Central Bureau of Investigation (CBI) told a special court in Delhi that it has obtained the sanction of the ministries concerned to file charges against him and four other former bureaucrats in the Aircel-Maxis case. Chawla had to step down as he was no longer “fit and proper" as per the Sebi regulations. The Aircel-Maxis is a case of alleged corruption in the grant of Foreign Investment and Promotion Board (FIPB) clearance in the Aircel-Maxis deal.

Chaturvedi a career bureaucrat is a former Indian Administrative Services officer who retired in January 2013 as Secretary, Ministry of Petroleum and Natural Gas. He is currently on the board of ICICI Bank and the member of the government appointed board of Infrastructure Leasing and Financial Services Ltd (IL&FS). He has earlier served as Director (Government Nominee) on the Boards of Canara Bank, Bank of Baroda, IDBI Bank Ltd, IDFC Ltd, GIC Re of India, New India Assurance Co. Ltd, United India Insurance Co. Ltd, Agriculture Insurance Co. of India, Institute of Banking Personnel Selection and National Insurance Academy.

Chaturvedi did his post-graduation in Physics at University of Allahabad. He also has an M.Sc. Social Policy and Planning in Developing Countries from London School of Economics. He has also served as chairman of Pension Fund Regulatory & Development Authority, Petronet LNG Ltd, Indian Strategic Petroleum Reserves Ltd and Oil Industries Development Board.