CBI to submit preliminary MCX-SX probe report within a week
23 May 2014
The Central Bureau of Investigation will submit its preliminary enquiry report on the MCX-SX investigation in a week's time.
The current and former chiefs of the Securities & Exchange Board of India were questioned by the CBI last week in connection with the probe into the allegedly fraudulent commodities exchange, reports CNBC-TV18.
The CBI, which had started its probe on grant of permission to MCX-SX to get a trading platform licence, will take a final call whether it will file an FIR or not. CBI has got most of their facts and documents in place.
Last week, CBI had questioned Sebi chairman U K Sinha and former chief of the market regulator M Damodaran.
Damodaran came into limelight after the CBI claimed that he cleared the MCX-SX file despite knowing that Income Tax searches were being carried out on the entity.
However, Damodaran claims the I-T report came in later, and MCX-SX was granted full-fledged equity licence during the tenure of Sinha.
The decision to question Damodaran and Sinha was taken after examination of another former Sebi chairman, C B Bhave, during which the CBI was told that public interest was involved in granting licence to MCX-SX to trade in currency derivatives.
Bhave and K M Braham during their questioning also said that CBI was out of line and this was not under its jurisdiction. They also pointed that CBI should also question their predecessors role in the same matter.
