CBI arrested the executive director (Projects) K B Singh and other involved in connection with the alleged case of bribe of Rs.50 Lacs. ( as per report said)
CBI arrested after teams conducts searches at various location like Delhi, Noida and Vishakhapatnam.
It might cause impacts on the state run entities share prices, which is at top position in as position of 52 week high in trends, due to this news. ( Currently NSE Live shows Rs.124.60 on 06th Sept., 23 | 12.00 pm)
Insight Story :
According to PTI | Executive director and four others was involved in bribe money paid to them for favoring the two pipeline Project : 1. Srikakulam to Angul 2. Vijaynagar to Auraiya.
The central bureau of investigation has arrested an Executive Directors (Projects), Gas Authority of India Ltd three private persons including Director of Vadodara (Gujarat) based private company in an alleged bribery of Rs.50 lac.
A case was registered against an Executive Director(Projects), Gas Authority of India Ltd(GAIL), Noida; a private company based at Vadodara & its Director; a CGM, Gas Authority of India(GAIL); a Senior General Manager of MECON Limited; two private persons, resident of Delhi & Jhajjar(Haryana) and unknown others on the allegations that the Executive Director(Projects), GAIL in conspiracy with others was extending undue favour in connection with SAPL (Srikakulam Angul Pipeline) and VAPL(Vijaipur Auraiya Pipeline) Projects of GAIL. It was further alleged that the Director of said private company had arranged the bribe amount of Rs.50 Lakh, through two private persons.
It was also alleged that the bribe of Rs.50 Lakh would be delivered to said public servant by the private person.
CBI laid trap. After delivery of the bribe by the said private person to the public servant, both were apprehended. The bribe of Rs.50 Lakh was recovered from ED(Projects).
Searches were conducted at the premises of accused including at Delhi, Noida, Visakhapatnam & Vadodara which led to recovery of incriminating documents and digital evidences etc..
The arrested accused will be produced before the Competent Court.
Official PTI : Visit Here..