The CBI has arrested the director (marketing) of GAIL in a case of allegedly taking a bribe of over Rs 50 lakh from perspective beneficiaries of a policy of providing discounts to dealers selling products of the Maharatna PSU, officials said Sunday
The CBI had unearthed the alleged bribery scam involving Ranganathan, middlemen, and businessmen, and arrested five individuals on Saturday, they said.
The central agency had conducted searches at eight locations including the office and residence of Ranganathan, they said.
"Cash of Rs 1.29 crore (approx), and gold jewellery & other valuables were recovered during searches from the premises of said accused (Ranganathan)," CBI Spokesperson RC Joshi said.
It is alleged that Ranganathan was collecting bribes from prospective beneficiaries of discounts to private companies buying petro chemical products marketed by the Maharatna PSU, officials said.