CBI has registered a PE against former Sebi chief C. B. Bhave for alleged irregularities in granting sanction to MCX Stock Exchange. (Express photo)
SummaryJairam Ramesh says C. B. Bhave was an outstanding IAS officer who brought integrity to capital markets.
Slamming the CBI for the �manner in which it initiated� a preliminary inquiry against former SEBI chairman C. B. Bhave and former member K M Abraham, Congress leader Jairam Ramesh Tuesday called it �shocking and appalling� and said �some larger forces� seemed at work.
�This fishing expedition by CBI is detrimental to decision-making in public domain... All decision-making will come to a halt this way,� Ramesh said.
He said C. B. Bhave was an outstanding IAS officer who brought integrity to capital markets. He noted the PM had the highest regard for C. B. Bhave, and added Abraham was one of the �most honest, diligent and straightforward officers�.
�I have known C. B. Bhave for 25 years. I know he was personally recruited in SEBI by (its former chairman) G V Ramakrishna. I know that the Prime Minister has the highest regard for his integrity. C. B. Bhave is one of the most outstanding IAS officers... Abraham is one of the most diligent, one of the most honest, one of the most straightforward officers you can think of. I am shocked and appalled at the manner in which CBI has moved against them,� he said.
CBI registered a preliminary inquiry against C. B. Bhave, who headed Sebi between February 2008 and February 2011, and Abraham, whose term as a whole-time member ended in 2011, for alleged irregularities in granting sanction to MCX Stock Exchange (MCX-SX) in 2008 and for renewing recognition in 2009 and 2010.
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