DG Corporate Affairs sent to two days CBI custody

Director General Corporate Affairs B K Bansal, an additional secretary-rank officer in Ministry of Corporate Affairs, who was arrested by CBI in a bribery case was today remanded in two days of the agency's custody by a special court here.
CBI during its searches at eight locations in connection with the case claimed to have recovered over Rs 56 lakh from Bansal, while Rs 16 lakh were recovered from Delhi-based middle man Vishwadeep Bansal, the agency sources said.
The duo along with two others were arrested yesterday evening in connection with the bribery case involving Rs 20 lakh.
The sources said Bansal, working in the Ministry of Corporate Affairs, was nabbed while receiving Rs nine lakh of the bribe amount which was second instalment of the agreed upon amount.

Bansal, Senior Administrative Grade officer of Indian Corporate Law Service (ICLS), was promoted to the post of Director General of Corporate Affairs (DGCA) last year.
A CBI spokesperson said a case was registered under provisions of Prevention of Corruption Act, 1988 on the allegations that Bansal had been dealing with matters related to certain violations committed by Mumbai-based Pharmaceutical company Elder Pharmaceuticals.

The sources said the Chief Operating Officer of Elder Pharmaceuticals had allegedly sought assistance of the middleman, who was also working as their distributor in Delhi.
They said Bansal had allegedly demanded a bribe of Rs 50 lakh for not recommending investigation by the SFIO on the inspection report and finally the middleman negotiated it to Rs 20 lakh.

They said the accused officer had earlier allegedly accepted Rs 11 Lakh and was demanding the balance amount.
They said CBI laid a trap and the accused officer was caught while accepting the bribe of Rs nine lakh outside a hotel here.