Syndicate Bank chief held for taking bribe

New Delhi: The CBI on Saturday arrested the chairman and managing director of Syndicate Bank S.K. Jain and five other persons for allegedly taking a bribe of Rs 50 lakh for increasing the credit limit of certain companies in violation of rules and regulations.

The CBI on Saturday produced before the local court three persons in connection with the case of bribery against Syndicate Bank’s chairman-cum-managing director S.K. Jain.

The three accused who were arrested here early this morning were produced before the special additional sessions judge B.B. Shukla, for obtaining transit remand for journey to Delhi.

Of the three, Vineet and Puneet Godha are close relatives of Mr Jain, while the third one, Vijay Pahuja, a cement trader, is a partner of Godha brothers, prosecution sources said. The court granted CBI their transit remand till August 4, with the direction to produce them before a court in Delhi.

Vineet Godha was once a spokesperson of the state Congress. The CBI has filed two cases against him for allegedly receiving bribe of Rs 50 lakh and “bypassing” rules to enhance credit limit of two companies with coal scam. “We are determined to fight corruption at high level and today’s case was one such example,” CBI director Ranjit Sinha said.