CBI working with ‘crazy logic’, ignoring facts: Bhave
- CBI launched a Preliminary Enquiry (PE) against ex SEBI Chairman Bhave for having granted a licence to MCX-SX in 2008 & further renewing it despite an Income Tax Probe against the applicant entities.
- The IT Department had found no substance in its probe against Shah, promoter of MCX-SX.
- Bhave alleged that CBI was involving in ‘pick & choose’ following a ‘crazy logic’ ignoring facts. He asserted that CBI should publicly apologize if his role is disproved.
- He said that licence provided never led to any profits, but inturn created competition.
- Spot Exchange Scam
- Forward Markets Commission (FMC)