The CBI has quizzed former Securities Exchange Board of India Chairman CB Bhave in connection with granting sanction to Jignesh Shah-founded Financial Technologies (India) and MCX to function as a full-fledged private stock exchange. Bhave was examined in Bangalore, two months after the agency registered a Preliminary Enquiry against him. The Preliminary Enquiry was registered on issues of alleged irregularities in granting sanction to the MCX Stock Exchange by SEBI in 2008 and renewing the recognition in 2009 and 2010.