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CBI conducts searches at SEBI official's residence, office

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Mumbai , Aug. 7

THE Central Bureau of Investigation (CBI) on Saturday conducted a search at the residence and office chamber of a senior Securities and Exchange Board of India (SEBI) official, Mr Nagender Parakh.

According to SEBI, the search was conducted in connection with a case dating back to several years, allegedly involving accumulation of assets disproportionate to his known source of income.

Mr Parakh, Chief General Manager, works in the Derivatives Department of SEBI. The regulator stated that this case "has nothing, whatsoever, to do with the functioning of SEBI."

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