The Central Bureau of Investigation (CBI) has arrested an assistant general manager (AGM) of the Securities Exchange Board of India (Sebi) for allegedly demanding and accepting a bribe of Rs 25 lakh.
A Sebi spokesman said Singh had been suspended with effect.
Sources said RP Singh, an AGM in Kolkata, was arrested by the anti-corruption wing of the CBI on Sunday evening.
The official is charged with asking the director of a Kolkata-based 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.
“He demanded a bribe of Rs 25 lakh from the complainant for not pursuing the matter. The CBI laid a trap and the AGM was caught red-handed,” said a CBI spokesperson.
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