What started as a co-location scam — preferential access for some brokers to the trading platform at the National Stock Exchange (NSE) — has become a full-blown corporate governance crisis.
An all powerful chief executive officer, who during her tenure had scant regard for norms, a ‘Himalayan yogi’ who seemed to know a lot about the NSE and interfered in its working, and a board of directors that failed to execute its fiduciary responsibilities, have all contributed to the situation.
As the crisis unravels The Hindu BusinessLine, which has been in the forefront in reporting this development, attempts to go deeper into the problem by analysing what happened, how it happened, how it could have been avoided and more importantly, what needs to be done now to avoid a similar crisis, through a webinar on ‘NSE’s Himalayan Scam’ on Monday at 4 p.m.
