CBI has arrested an Assistant General Manager of market regulator SEBI for allegedly demanding and accepting a bribe of Rs 25 lakh.  Official sources said R P Singh, an AGM of the Securities and Exchange Board of India (SEBI)in Kolkata, was arrested by CBI’s anti-corruption wing on Sunday evening.

“The officer has been suspended with immediate effect,” a SEBI official told PTI from Mumbai.It is alleged in the complaint that the SBEI officer asked the Director of a Kolkata-based group of companies to furnish some documents and other particulars of the business being transacted by one of its companies 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 while accepting a bribe of Rs 25 lakh from the complainant,” a CBI spokesperson said.

During subsequent searches at the residence of the officer, CBI said Rs 28 lakh in cash and documents showing huge investments in movable and immovable property were recovered. The accused was today produced before a Special CBI court and was remanded to judicial custody till February 12.

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