Syndicate Bank Case: Accused Sent to Judicial Custody Till September 11

New Delhi: A court here on Friday extended till September 11 judicial custody of the 11 accused including Syndicate Bank 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 (Central Bureau of Investigation) Judge V K Gupta said.

All the 11 accused were produced before the court on expiry of their judicial custody.

Besides Mr Jain and Mr Singal, alleged middleman Purshottam Totlani, Arun Aggarwal, Prakash Industries Ltd CMD Ved Prakash Agarwal 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 Mr 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.

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