Home INDIA & BEYOND Syndicate Bank case: Bail of 2 accused rejected

Syndicate Bank case: Bail of 2 accused rejected

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New Delhi, Sep 8:

A court here Monday rejected bail plea of two accused allegedly involved in the Syndicate Bank bribery case.

Central Bureau of Investigation (CBI) Special Judge Swarna Kanta Sharma rejected the bail plea of Arun Agarwal and Vijay Pahuja, who were close associate of Syndicate Bank chairman-cum-managing director S.K. Jain, another accused in the case.

According to CBI, both accused were working as agents and receiving illegal gratification on behalf of Jain.

While denying bail to the duo, the court said the investigation in the case is at a crucial stage. It observed that one accused is still on the run.

Bhushan Steel Ltd.’s vice-chairman Neeraj Singhal is also an accused in the case.

The CBI had arrested Jain Aug 2 for allegedly taking Rs.50 lakh in bribe for raising the credit limit of some companies in violation of banking rules. Singhal was arrested Aug 7.

(IANS)