CBI arrests Sebi AGM accepting bribe Rs25 lakh

CBI arrests Sebi AGM accepting bribe Rs25 lakh
PTI
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First Published: Tue, Feb 02 2010. 12 17 AM IST
Updated: Tue, Feb 02 2010. 12 17 AM IST
New Delhi: CBI has arrested an assistant general manager of market regular Securities and Exchange Board of India (Sebi) for allegedly demanding and accepting a bribe of Rs25 lakh.
Official sources said R.P. Singh, an AGM of the Sebi in Kolkata, was arrested by CBI’s anti-corruption wing on Sunday evening.
“The officer has been suspended with immediate effect,” a Sebi official said from Mumbai.
It is alleged in the complaint that the Sebi officer asked the director of a Kolkata-based group of companies to furnish some documents and other particulars of the business being transacted by one of its companies as a corporate agent of LIC and GIC.
“He demanded a bribe of Rs25 lakh from the complainant for not pursuing the matter. The CBI laid a trap and the AGM was caught red-handed while accepting a bribe of Rs25 lakh from the complainant,” a CBI spokesperson said.
During subsequent searches at the residence of the officer, CBI said Rs28 lakh in cash and documents showing huge investments in movable and immovable property were recovered.
The accused was on Monday produced before a Special CBI court and was remanded to judicial custody till 12 February.
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First Published: Tue, Feb 02 2010. 12 17 AM IST