Jun 22, 2012, 09.18 PM IST

Eldeco chairman arrested in graft case

The CBI has arrested the CMD of realty firm Eldeco in connection with its probe in an alleged graft case in which some senior Income Tax officials have been nabbed by the agency.

Source: PTI

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The CBI has arrested the CMD of realty firm Eldeco in connection with its probe in an alleged graft case in which some senior Income Tax officials have been nabbed by the agency. Agency sources said S K Garg was arrested in connection with the case. He was produced before the Patiala House court and sent to judicial custody till July 4, they said.

The CBI had arrested four senior I-T officials, including Director (Investigations) Kunal Singh, besides Eldeco MD Pankaj Bajaj in connection with they alleged graft case, they said.

Besides Singh, who held the charge of Commissioner Kanpur range, Additional Director Investigations Ratan Singh, Assistant Director Uma Kant, Inspector Harish Dhaundiyal, and Chartered Accountant Anil Jaiswal had been arrested in connection with the case, CBI sources said.

They said the matter pertained to a survey carried out by I-T officials on March 28 in connection with complaints of alleged tax evasion by Eldeco. They said before listing the recoveries from Bajaj's lockers, the officials allowed him and his family to allegedly take away major portion of cash and gold stored in them in exchange of illegal gratification.

The agency had recovered Rs 30 lakh from Hauz Khas residence of Kunal Singh which was allegedly give as bribe by Bajaj to settle a tax evasion case against Eldeco, they said.