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CBI arrests Bhushan Steel official in graft case

Posted on Aug 07 2014 | IANS

New Delhi, Aug 7 : The CBI Thursday arrested Neeraj Singhal, vice chairman of Bhushan Steel Ltd, from Delhi in connection with the Syndicate Bank bribery case.

Singhal was arrested a day after Special CBI Judge Swarna Kanta Sharma rejected his anticipatory bail plea.

The Central Bureau of Investigation (CBI) arrested him after the CBI judge Thursday issued non-bailable warrant against him and Purushotam Totlani, an alleged middleman related to the bribery case.

The court said the offence levelled against Singhal is serious in nature and requires his custodial interrogation.

Chairman-cum-managing director of Syndicate Bank S.K. Jain was arrested Aug 2 for allegedly taking Rs.50 lakh bribe for increasing credit limit of some companies in violation of banking rules.

Five others were also arrested in the case.

The CBI has registered two cases against Jain and 11 others, including the CMD and directors of two Delhi-based private firms -- Bhushan Steel Ltd. and Prakash Industries -- on charges of criminal conspiracy and under the Prevention of Corruption Act.

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