He has been arrested under charges of bribery.
In a statement issued late on Feb 25, the CBI said that A K Srivastava, NALCO's chairman and managing director, had accepted a bribe of three kg gold through his wife. She has also been arrested. The CBI also said that it has also recovered seven kg gold and about Rs 3,000,000 from the couple.
The state-run organisation, NALCO, confirmed the developments but has not issued any statement so far.
The central government is already grappling with a series of corruption scandals ranging from the 2G spectrum allocation scandal to the irregularities in Commonwealth Games organising. In between there is also the latest scandal of ISRO-Devas spectrum allocation deal.