The tale of two positive deviants

It is clear that the NSE management had lost its legitimacy and dangerously weakened the institution's foundations

The unbelievable saga going on at the National Stock Exchange (NSE) has dominated the headlines for the past 10 days, with good reason. This is a new low for India Inc. An utter lack of governance, transparency and professionalism pervaded NSE’s leadership team, and sprang to the surface after its former managing director (MD) and chief executive officer Chitra Ramkrishna inducted a virtual nobody like Anand Subramaniam as chief operating officer in April 2013.

On the face of it, it may be hard to find even an iota of sanity in this long-drawn-out case. But amidst this hopeless collapse of governance