The Hindu Business Line : CBI arrests SEBI official

A senior official of the Securities and Exchange Board of India, who was arrested here on Sunday by the Central Bureau of Investigation, was produced on Monday before the Special Judge, Alipore, and remanded to judicial custody till February 12.

The CBI arrested Mr R.P. Sing, an Assistant General Manager of SEBI, for allegedly demanding and accepting a bribe of Rs 25 lakh.

In a release issued on Monday the CBI said: “It is alleged in the complaint that the Assistant General Manager of SEBI had asked the Director of a Kolkata-based group of companies to furnish some documents and other particulars of the business being transacted by one of the group companies as a corporate agent of LIC and GIC. He demanded a bribe of Rs 25 lakh from the complainant for not pursuing the matter. The CBI laid a trap and the SEBI official was caught while accepting a bribe”.

Further investigations were on, CBI said.

SEBI has suspended the official with immediate effect.

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