CBI sources said they would proceed with a preliminary inquiry and submit their report to Supreme Court within a period of two months.
The sources said CBI would study the specific instances which the apex court wants the agency to probe and then start analysis of the transcripts.
"Prima facie, there is deep-rooted malice by private enterprises in connivance with government officials and Radia's conversations suggest that influential persons indulged in corrupt practices for private gains," a bench headed by Justice GS Singhvi said today.
However, while reading out the order, the bench did not elaborate on the issues to be looked into by the agency.
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It took note of the submission by CBI saying it had found an element of criminality in the said conversations.
The bench referred one issue, reportedly pertaining to the judiciary, to the CJI for passing an appropriate order.
Another issue was referred by it to the Chief Vigilance Officer of the Mines Department.