CBI arrests SEBI official for accepting Rs. 2.5 million as bribe

Kolkata, Feb.1 (ANI): A Central Bureau of Investigation (CBI) team on Monday arrested an Assistant General Manager of Security Exchange Board of India (SEBI) for demanding and accepting a bribe of rupees 2.5 million from a person.

It is alleged that the SEBI's assistant general manager Rajesh Pratap Singh had asked Gautam Kundu, Chairman, Rose Valley 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.

The arrest was made possible after laying down a trap following a complaint and the alleged person Singh was arrested red-handed.

The team acted upon a complaint in which it was stated that that Singh had demanded a bribe of rupees 2.5 million from the complainant for not pursuing the matter.

Besides the cash, the CBI recovered other documents showing huge investments in movable and immovable property from Singh's residence. (ANI)