Registrar of Companies held for graft, granted bail

Registrar of Companies held for graft, granted bail
PRESS TRUST OF INDIA

AHMEDABAD, MARCH 30: The Registrar of Companies in Gujarat, arrested by the Central Bureau of Investigation (CBI) for allegedly accepting a bribe from an industrialist, was released on bail by the Special CBI court here yesterday.

The accused was arrested under the Prevention of Corruption Act on Tuesday night while allegedly accepting a bribe of Rs one lakh from a proprietor of two companies who had approached him for granting approval of merger of two companies and also facilitate its listing on the stock exchange, official sources said today.

Granting the bail surety of Rs 50,000, the court directed the accused not to leave Ahmedabad and Gandhinagar without the permission of the CBI until investigation in the matter was over.

The accused had initially demanded Rs 10 lakh for the job but lowered it to Rs two lakh, and was caught accepting the first instalment of the bribe. Besides the Rs one lakh given by the complainant, who had tipped off the CBI, the CBI also recovered from the residence of the accused unaccounted money amounting to Rs 1.10 lakh, the sources added.