Syndicate Bank bribery case: accused sent to JC till Sept 11

A court here today extended till September 11 the judicial custody of 11 accused, including Syndicate Bank Chief Managing Director (CMD) Sudhir Kumar Jain and Bhushan Steel Ltd Vice Chairman and Managing Director Neeraj Singal arrested in connection with two separate graft cases.
"It is stated by the IO that the investigation is still going on and witnesses are yet to be located. Some more evidences are being collected in connection with the case. All the accused are sent to judicial custody till September 11," Special CBI Judge V K Gupta said.
All the 11 accused were produced before the court on expiry of their judicial custody.

Besides Jain and Singal, alleged middleman Purshottam Totlani, Arun Aggarwal, Ved Prakash Agarwal, CMD of Prakash Industries Ltd and its Director Vipul Agarwal and some other accused were arrested by CBI in connection with the case.
They have been booked under the provisions of Prevention of Corruption Act and criminal conspiracy under the IPC.
On August 2, CBI had arrested six accused in connection with the case.

CBI had claimed to have recovered Rs 21 lakh in cash from Jain's residence besides gold worth Rs 1.68 crore and documents of fixed deposits of up to Rs 63 lakh.
The agency has filed two cases against Jain, accusing him of receiving a bribe of Rs 50 lakh through conduits and abusing his official position to enhance the credit limits of some companies in violation of laid-down procedures.

Singal was arrested by CBI on August 7, hours after the court had issued a non-bailable warrant against him.