The Board of Control for Cricket in India’s Committee of Administrators could soon lose another member. The Securities and Exchange Board of India on Friday approved the appointment of COA member and banker Vikram Limaye (pictured far left) as the new chief executive and managing director of the National Stock Exchange of India.

India’s markets regulator, however, made Limaye’s appointment conditional on him being relieved from the Supreme Court-appointed committee overseeing the affairs of the Indian cricket board.

“Sebi has approved the appointment [of Limaye] ... subject interalia to his being relieved from his BCCI assignment,” a release from the NSE said. Limaye has until August to recuse himself from the COA, Mint reported.

“The condition in the approval is to ensure that his responsibilities at NSE are not compromised due to his additional role at the BCCI panel,” a Sebi official told the business newspaper. If Limaye quits the COA, he will become the second of four members to do so since its appointment in January this year.

Historian Ramachandra Guha had resigned from the committee earlier this month for personal reasons. However, in a letter to panel chief Vinod Rai that was later made public, Guha called out the “superstar culture” prevalent in Indian cricket and criticised the COA’s inaction in several instances in the last five months.

The COA currently includes former India cricketer Diana Edulgi apart from Rai and Limaye.