The Central Bureau of Investigation has registered a case of alleged bribery against the Chairman & Managing Director of Syndicate Bank Sudhir Kumar Jain.

The allegation pertains to Jain asking for a bribe to extend credit facilities to certain companies. The agency also raided 20 places in four cities — Bangalore, Bhopal, Mumbai and Delhi. It has recovered a bribe amount of Rs 50 lakh. Searches, so far, have led to recovery of several asset papers and incriminating documents. The agency said further investigation is on.

Jain assumed charge as CMD of the bank on July 8 last year. He has been in the banking industry for 26 years.

PTI says: CBI has arrested six people including CMD of Sydicate Bank S K Jain for allegedly taking bribe of Rs 50 lakh.


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