The Central Bureau of Investigation raided the office and the residence of a top SEBI official on Saturday for allegedly possessing assets disproportionate to his known sources of income.

The CBI carried out searches at the residence and the office of Nagendra Parekh, Chief General Manager (derivatives section, Securities and Exchange Board of India. Further details are awaited.

SEBI, the capital market regulator, meanwhile said that the searches had nothing to do with the 'functioning of SEBI' and it was in connection with 'a case dating back to several years allegedly involving disproportionate assets.'