Two denied bail in Syndicate Bank bribery case

A court here Thursday refused to grant bail to Chairman-cum-Managing Director (CMD) of Prakash Industries Ltd Ved Prakash Agarwal and its Director Vipul Agarwal in the Syndicate Bank bribery case.

Central Bureau of Investigation (CBI) Special Judge Swarna Kanta Sharma dismissed the bail plea of Ved Prakash Agarwal and Vipul Agarwal.

Both are in judicial custody along with Bhushan Steel Ltd vice-chairman Neeraj Singhal and Syndicate Bank chairman-cum-managing director S.K. Jain.

The CBI had arrested Jain Aug 2 for allegedly taking Rs.50 lakh in bribe for increasing the credit limit of some companies in violation of banking rules. Singhal was arrested Aug 7. Three others were also arrested in the case.