The Central Bureau of Investigation on Thursday registered a so-called preliminary enquiry against ex-Sebi chief CB Bhave and former whole-time member KM Abraham as it looks into the process of grant of licence to MCX-SX.
But given the developments that took place in the run-up to the issue of grant of license, it appeared that the dispensation led by Bhave at Sebi was hardly in favour of the MCX group.
For, it was MCX-SX that dragged Sebi to court for dragging its feet on the issue of granting licence while the regulator kept taking issue with the ownership structure that existed at the exchange.
Also read: MCX-SX board meet: Co says business as usual, but is it?
In fact, it was Abraham -- who later made news for uncovering the famous Sahara bond issue that has now landed its chief in jail -- who had written to the prime minister alleging the regulator was pressured by the finance ministry to go easy on cases such as MCX.
Even as the case acquires a new twist, CNBC-TV18 spoke with senior journalists R Jagannathan, editor-in-chief of Network18 web portals such as FirstPost, and Sunil Jain, editor of The Financial Express.
Both journalists said this was a fishing expedition against the former Sebi officials. Jagannathan also opined that there could be a political angle to the move amid expectations that a new government may come to power.
Watch video for the full interview.
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