02.02.2010

CBI arrests Sebi AGM accepting bribe Rs25 lakh

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. – www.presstrustofindia.com

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