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Syndicate Bank CMD gets bail

SK Jain, CMD, Syndicate Bank
SK Jain, CMD, Syndicate Bank

New Delhi, Oct 1 :

A court here Wednesday granted bail to Syndicate Bank chairman-cum-managing director S.K. Jain and five others in the Syndicate Bank bribery case.

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

The Central Bureau of Investigation (CBI) Special Judge Swarna Kanta Sharma granted bail to Jain, co-accused Pawan Bansal, Mukesh Jindal, Vineet Godha, Puneet Godha, and Vipul Aggarwal.

The court has asked them to furnish a personal bond of Rs.200,000 each and a surety of the like amount.

The five accused including Bhushan Steel vice-chairman Neeraj Singhal were granted bail earlier in the case. Singhal was arrested Aug 7.