Financial Technologies India ltd (FTIl) elevated Venkat K Chary as the Non-Executive Chairman of its Board here on Thursday.
The development came after the arrest of FTIl's promoter Jignesh Shah on Wednesday by the Mumbai police for his alleged role in the Rs 5,600-crore National Spot Exchange ltd (NSEl) scam.In a hurriedly called board meeting on Thursday, the company decided to appoint Venkat Chary who is already an independent director of the company.The board also approved handing over of powers to two whole-time directors to manage the company's day-to-day affairs, a statement said.