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What is the story about?
The National Stock Exchange of India (NSE) on Sunday, September 6, said media reports linking its Managing Director and CEO Ashishkumar Chauhan to the Tata Sons chairman post were not based on any information available with the exchange.
The clarification came after a September 5 media report titled “Tata Sons succession race narrows to Narendran, Agarwal; Chauhan emerges as dark horse” suggested that Chauhan was among those being considered for the position.
Chauhan denies Tata Sons chairman reports
In a regulatory filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, NSE said Chauhan had denied the reports and described them as speculative and factually incorrect.
In an email to NSE officials, Chauhan said he remained focused on his responsibilities as the exchange's MD and CEO, particularly its upcoming Initial Public Offering (IPO) and listing process.
“I am fully committed to working closely with the Board and its shareholders to achieve the successful listing of the company and other associated objectives,” Chauhan said.
He added that he was “completely engaged” in driving the listing process and that the reports linking him to Tata Sons were unfounded.
NSE urges stakeholders to disregard rumours
NSE advised stakeholders not to rely on the reports or market rumours concerning Chauhan's alleged candidature.
The exchange said it had complied with the relevant disclosure requirements under the SEBI LODR Regulations and would continue to do so.
The clarification was issued after NSE's regulatory and compliance team sought Chauhan's response to reports about his alleged candidature for the Tata Sons chairman position. The exchange said the matter required clarification as it approaches the launch of its IPO.
The clarification came after a September 5 media report titled “Tata Sons succession race narrows to Narendran, Agarwal; Chauhan emerges as dark horse” suggested that Chauhan was among those being considered for the position.
Chauhan denies Tata Sons chairman reports
In a regulatory filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, NSE said Chauhan had denied the reports and described them as speculative and factually incorrect.
In an email to NSE officials, Chauhan said he remained focused on his responsibilities as the exchange's MD and CEO, particularly its upcoming Initial Public Offering (IPO) and listing process.
“I am fully committed to working closely with the Board and its shareholders to achieve the successful listing of the company and other associated objectives,” Chauhan said.
He added that he was “completely engaged” in driving the listing process and that the reports linking him to Tata Sons were unfounded.
NSE urges stakeholders to disregard rumours
NSE advised stakeholders not to rely on the reports or market rumours concerning Chauhan's alleged candidature.
The exchange said it had complied with the relevant disclosure requirements under the SEBI LODR Regulations and would continue to do so.
The clarification was issued after NSE's regulatory and compliance team sought Chauhan's response to reports about his alleged candidature for the Tata Sons chairman position. The exchange said the matter required clarification as it approaches the launch of its IPO.
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