New Delhi, Aug 12 IANS | 4 months ago

A court here Tuesday sent Bhushan Steel Ltd vice chairman Neeraj Singhal and Syndicate Bank chairman-cum-managing director S.K. Jain, accused in the Syndicate Bank bribery case, to judicial custody till Saturday.

Central Bureau of Investigation (CBI) Special Judge Swarna Kanta Sharma sent the two to jail after they were presented in the court on expiry of their police custody.

The CBI arrested Neeraj Singhal last Thursday and presented him in a court here Friday. Jain was arrested Aug 2 for allegedly taking Rs.50 lakh bribe for increasing the 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.

(Posted on 12-08-2014)

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