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Ex-bureaucrats criticise CBI’s action; support Abraham, Bhave

Both Bhave and Abraham have an unblemished record Vinod Rai, Former CAG.

Coming out in support of ex-Sebi chairman CB Bhave and ex-member KM Abraham, former bureaucrats have questioned the CBI’s “unfortunate action” of registering a Preliminary Enquiry against them for alleged irregularities in granting sanction to MCX Stock Exchange.

“Both Bhave and Abraham have an unblemished record,” former CAG Vinod Rai told PTI. Former Central Vigilance Commissioner N Vittal also questioned CBI’s move against Bhave and Abraham. “The CBI has become highly controversial. Its reputation has become questionable,” Vittal alleged.

The PE was registered against Abraham and Bhave yesterday on issues of alleged irregularities in granting sanction to the MCX-SX by the Sebi in 2008 and renewing the recognition in 2009 and 2010.

The probe by CBI is to ascertain how MCX-SX was granted permission despite opposition by Sebi when Bhave was head of the regulatory authority. The CBI’s enquiry has also named Jignesh Shah-founded Financial Technologies India Ltd and its commodity exchange arm MCX.

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“It is very unfortunate to harass these people. In case they (Bhave and Abraham) have made wrong decision and there is no malafide intention in it, then they should not be harassed,” said EAS Sarma, former coal secretary.

He suggested a mechanism to be in place to safeguard honest officials.

“There has to be a rating for bureaucrats during their tenure. No case should be registered against an officer for any wrong decision if his intentions were not malafide.

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“There is also a need to have a systematic reform. Instead of naming a person in an enquiry, the need is to take corrective steps in the system,” said Sarma.

Former IAS officer G Sundaram also supported Bhave and Abraham. “I don’t know them. Both of them are supposed to be good officers,” he said. Sundaram also questioned suspension of some officials during their last days of retirement. “There have been many instances where bureaucrats have been suspended on the last date of retirement. It is unfair,” he added.

While Bhave is a former IAS officer, Abraham is an additional chief secretary in Kerala. Abraham is a 1982 batch IAS officer of Kerala cadre.

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Bhave was Sebi chairman between February 19, 2008 and February 17, 2011. Whereas, Abraham had served as whole-time member of Sebi between July 21, 2008 and July 20, 2011.

Former bureaucrats had also criticised CBI’s action against former Coal Secretary PC Parakh. CBI had in October last year registered a case against Parakh and Kumar Mangalam Birla on charges of criminal conspiracy and corruption in connection with irregularities in the allocation of coal blocks in Orissa in 2005.

First published on: 15-03-2014 at 02:53:35 am
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