CBI recovers Rs 1.30 crore from GAIL director`s home, arrests 5 in bribery case

New Delhi: The CBI has recovered Rs 1.30 crore from GAIL director (marketing) E.S Ranganathan's residence. CBI searched the Rangnathan's residence office in Delhi and residence in Noida.

The central investigation agency has registered a case against E S Ranganathan, director (marketing) of GAIL, along with several other businessmen and private persons in an alleged case of bribery of over Rs 50 lakh from private companies buying petro-chemical products marketed by the PSU, officials said on Saturday (January 15).

At the direction of representatives of a private company, the middleman requested Ranganathan to offer some discount to the buyers on petro chemical, stated the central agency.

According to the CBI, another private person has also collected Rs 40 Lakh from the accused earlier in the matter.
CBI laid a trap and detained a private person and a director of a private company based at Delhi when the alleged bribe of Rs 10 lakh was received by the private person from the said director of private company allegedly on behalf of Ranganathan.

Several searches were conducted at the premises of the accused at Delhi, Noida, Gurgaon, Panchkula, Karnal etc, which led to the recovery of nearly Rs 84 lakh, so far which includes recovery of Rs 75 lakh from Gurgaon based private person. 
The CBI has so far arrested 5 private persons and further investigation is underway.