CBI arrests NCLT-appointed insolvency resolution professional in Rs 3.5-lakh bribery case

The CBI has arrested an insolvency resolution professional appointed by the NCLT, Mumbai, and the owner of a private company for allegedly receiving a bribe of Rs 3.5 lakh for hushing up criminal proceedings against a contractor, officials said Monday.

Arun Mohan, the resolution professional, had allegedly demanded a bribe of Rs 5 lakh from a contractor and his wife, whose Rs 2.5 lakh was due on a Hyderabad-based company declared insolvent under the Insolvency and Bankruptcy Code, they said.

When the contractor approached Mohan, the resolution professional allegedly threatened that if bribe was not paid a criminal case would be lodged against his wife who was handling the work outsourced by the company, they said.

The agency has arrested Mohan and Paresh Kumar, the CEO of New Delhi-based Multimax Asset Reconstruction Pvt Ltd, in the case.