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Judicial custody of vice-chairmen of Bhushan Steel extended

Posted on Aug 16 2014 | IANS

New Delhi, Aug 16 : A court here Saturday extended the judicial custody of Bhushan Steel Ltd vice chairman Neeraj Singhal and Syndicate Bank chairman-cum-managing director S.K. Jain, accused in the Syndicate Bank bribery case, till Aug 29.

Central Bureau of Investigation (CBI) Special Judge Swarna Kanta Sharma remanded Singhal, Jain and others to judicial custody till Aug 29.

The CBI had arrested Jain Aug 2 for allegedly taking Rs.50 lakh in bribe for increasing the credit limit of some companies in violation of banking rules. Singhal was arrested Aug 7. 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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