New Delhi : The CBI registered a Preliminary Enquiry (PE) against former Sebi Chairman C B Bhave and ex-member K M Abraham, as also against Jignesh Shah-founded Financial Technologies India Ltd (FTIL) and MCX, among others.

According to CBI, the PE was registered for alleged irregularities in granting sanction to the MCX Stock Exchange (MCX-SX) by the Securities and Exchange Board of India in 2008 and renewing the recognition in 2009 and 2010.

The probe is to ascertain how MCX-SX was granted permission despite opposition by Sebi when Bhave was head of the regulatory authority.

Incidentally, Abraham had written in 2011 to the Prime Minister’s Office that Sebi was being pressurised by the Finance Ministry to go easy on some corporates, including MCX and Sahara, against whom he had passed orders.

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