24th Mar 18: CBI files case against Jignesh Shah, MCX, 4 former FMC chiefs

The Central Bureau of Investigation (CBI) has registered a case against Jignesh Shah, former managing director of Multi Commodity Exchange of India Ltd (MCX), four former Chairman of Forward Market Commission (FMC) and others over allegation of irregularities in launching the IPO of MCX in 2012. It is also alleged that Shah and said private company illegally retained shares beyond the permissible 26 percent till 2012 and thereby derived wrongful gain of Rs 137 crore by selling 26,41,715 excess shares at a rate of Rs 1032 per share.

The agency has also registered case against Financial Technologies India Limited (FTIL) and carried out conducted searches at its Mumbai headquarters apart from residences and officers of all the accused in the case.

“Searches were carried out at the office of Shah and others in nine locations in Mumbai, Gwalior and Shimla,” CBI Spokesperson Abhishek Dayal said

More details here

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