Mumbai: The Central Bureau of Investigation has registered a case against four former chairmen of Forward Market Commission including B C Khatua, Kewal Ram, Anand Kumar Bhatt and Rajeev Kumar Agarwal, alleging that they had facilitated the private commodity exchange in getting the nationwide Multi Commodity Exchange status.
The agency has also registered case against Jignesh Shan, the then MD of MCX and Financial Technologies and Multi Commodity Exchange of India (MCX).
"It was also alleged that then MD(Jignesh Shah) and said private company(Financial Technologies and MCX) illegally retained shares beyond the permissible 26% till 2012 and thereby derived wrongful gain of Rs 137 crore(approx) by selling 26.41 lakh excess shares at a rate of Rs 1023 per share," CBI said in a statement on Friday.
The agency said searches were conducted today at 9 residences and office premises of accused persons in Mumbai, Gwalior and Shimla, which led to recovery of several incriminating documents.
The other officials on whom the case has been registered include Joseph Massey, then Deputy MD of MCX, Vishal Nair, then deputy director of Forward Markets Commission, Bhimrao Raibhole, then senior research assistant at FMC and Ujawal Thathare, then SRA at FMC.
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