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Sebi officer in bribe net

New Delhi, Feb. 1 (PTI): The CBI has arrested an assistant general manager of market regulator Sebi for allegedly demanding a bribe of Rs 25 lakh.

Official sources said R.P. Singh, an AGM of the Securities and Exchange Board of India (Sebi) in Calcutta, was arrested yesterday. “He has been suspended with immediate effect,” a Sebi official said from Mumbai.

The complaint against Singh said he had asked the director of a Calcutta-based group of companies to furnish some documents of the business being transacted by one of its firms as a corporate agent of LIC and GIC. “He demanded a bribe of Rs 25 lakh from the complainant for not pursuing the matter. The CBI laid a trap and the AGM was caught red-handed,” a CBI spokesperson said.

Singh has been remanded in judicial custody by a CBI court till February 12.

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