Commodity MCX / NCDEX tips, News

Moneymunch found CBI complaints against MCX-SX licence

mcx jignesh shah
CBI director Ranjit Sinha
IT (Income Tax Department) had raided the offices of MCX and FTIL on June 19, 2007. The CBI is looking into this matter five years after the permission was granted and Sebi chief C B Bhave said “MCX Stock Exchange case, CBI working with ‘crazy logic'”. Central Bureau of Investigation (CBI) said on Thursday that it had registered a preliminary enquiry against former Securities and Exchange Board of India (Sebi) chief C.B. Bhave, its former whole-time member K.M. Abraham, Multi Commodity Exchange of India Ltd (MCX) and Financial Technologies India Ltd (FTIL).
P Chidambaram
Our Finance Minister P Chidambaram last words were on this matter, “don’t think CBI has all the facts on Bhave case. I am sure the Sebi records give reasons for why it gave them the licence for currency futures”.
Jignesh shah
But two days back at evening, Jignesh Shah was taken to CBI headquarters in Mumbai for questioning. The enquiry, in this instance, has been registered in connection with the grant of a licence to MCX Stock Exchange (MCX-SX), which first started operations in 2008 with its currency derivatives segment. Shah was later released by CBI.

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