May 22, 2014 6:15 PM

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MCX-SX case: CBI examines Sebi Chairman U K Sinha

CBI has examined Securities and Exchange Board of India (Sebi) Chairman U K Sinha in MCX-SX case. The CBI spokesperson said that the decision to examine Sinha, as also former Sebi Chairman M Damodaran, was taken after examination of another formerSebi chief C B Bhave earlier this month, during which theagency sleuths were told that public interest was involved in grant of licence to MCX-SX to trade in currency derivatives. Damodaran will also be examined soon. Bhave, a 1975 batch IAS officer from Maharashtra, alsomade it clear that there was no undue pecuniary benefit toJignesh Shah entities as a result of this decision. The CBI has claimed that Damodaran cleared MCX-SX file, despite knowledge of searches on Shah and other investigations by the Income Tax department. MCX-SX was set up by Financial Technologies (India) FTIL and its commodity exchange arm MCX earlier as a currency derivatives exchange and began functioning as a full-fledged stock exchange last year after a prolonged battle with Sebi.

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