Chairman-cum-Managing Director of Syndicate Bank SK Jain and seven others were today remanded in CBI custody for four days as the agency plans to probe various other angles into the case that may emerge from the telephonic transcripts of the official and conduits.
After completing necessary formalities, the CBI placed Jain and seven others — Chairman-cum-Managing Director of Prakash Industries Ved Prakash Agarwal and Director Vipul Agarwal, Chartered Accountant Pawan Bansal, Vineet and Puneet Godha (relatives of Jain), Vijay Pahuja and Pankaj Bansal under arrest.
They were produced before a magistrate who remanded them in CBI custody for four days, official sources said.
Jain was arrested by CBI yesterday for allegedly negotiating with Bushan Steel for an illegal gratification of Rs 50 lakh in return for granting credit extension to that company as it had defaulted on the payment of loan installments amounting to crores of rupees to the bank.
Vice Chairman of the company Neeraj Singhal, who is named in the FIR and is since absconding, is alleged to have made the payment through a conduit Purushotam Totlani to Vineet Godha, brother-in-law of Jain. The conduit is also absconding and the CBI hopes to nab them soon.
CBI claimed to have recovered cash to the tune of Rs. 21 lakh from Jain’s residence besides gold worth Rs. 1.68 crore and fixed deposits of up to Rs. 63 lakh.
