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Bhushan Steel official sent to police custody

Posted on Aug 08 2014 | IANS

New Delhi, Aug 8 : A CBI court here Friday sent Neeraj Singhal, vice chairman of Bhushan Steel Ltd., and S.K. Jain, chairman-cum-managing director of Syndicate Bank, to the CBI's custody till Aug 12 in the Syndicate Bank bribery case.

Central Bureau of Investigation (CBI) special judge Swarna Kanta Sharma allowed the investigating agency to quiz Singhal and Jain in the case.

The CBI arrested Singhal Thursday.

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 have also been arrested in the case.

The CBI has registered two cases against Jain and 11 others of 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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