MCX-SX case: CBI seeks clarifications from SEBI chief

The Central Bureau of Investigation (CBI) has sought clarifications from Securities and Exchange Board of India (SEBI) Chairman U. K. Sinha on the grant of recognition to MCX Stock Exchange set up by Jignesh Shah-led Financial Technologies India Limited (FTIL). Mr. Sinha is learnt to have shared with the agency the grounds on which the permission for the stock exchange was given. While the CBI had earlier last month examined former SEBI Chairman C. B. Bhave, it also plans to pose some questions to another former SEBI chief M. Damodaran. “The Preliminary Enquiry has been instituted against Mr. Bhave, former SEBI member K. M. Abraham, FTIL, MCX and others to verify suspected irregularities in the grant of permission,” said a CBI official said.