V R Narasimhan, the Dean of SEBI managed National Institute of Securities Markets (NISM), may step down soon from his position. Narasimhan is the former chief regulatory official (CRO) of NSE and his appointment at NISM became controversial since SEBI found him guilty of lapses in duty when at NSE and also fined him ₹6 lakh in the recent order related to Chitra Ramkrishna. V Shanmugam’s name now appears at the top on NISM’s website instead of Narasimhan. Shanmugam is the ex-MCX head of research, who was working under Mrugank Paranjape.  Narasimhan was appointed as the Dean of NISM despite the fact that there were SEBI investigations going on against him in a matter related to Chitra Ramkrishna’s illegal appointment of Anand Subramanian and other corporate governance lapses at the NSE. In a sensational revelation, it has come out that Ramkrishna was running the exchange on the guidance of an unidentified person, who she said was a Yogi. Ramkrishna was caught sharing confidential information of NSE with a Yogi. Narasimhan was found guilty of making misleading and incorrect statements to SEBI, suppressing irregularities with NSE, and failing to perform his duty as a regulatory officer. Yet, at NISM he was made incharge of training young minds on the subjects of, Regulatory Studies, Supervision, and Corporate Governance. Narsimhan’s role at NSE was under the scanner since 2016. 

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