GAIL Director arrest by CBI: Financial impact of bribery case can’t be ascertained, says PSU

• The CBI said that a court has remanded three accused to six days' police custody and the remaining three to one-day police custody
• The CBI had arrested the Director (Marketing) of GAIL, along with five others, in a case of alleged corruption and bribery on January 16

New Delhi: Commenting for the first time on the arrest of its Director (Marketing) ES Ranganathan by the Central Bureau of Investigation (CBI) in relation to an alleged case of corruption and bribery, state-owned Gas Authority of India Ltd (GAIL) has said that it cannot ascertain its financial impact at this stage. In a regulatory filing to the stock exchanges, GAIL said, "Company is not aware of any information other than those published or reported in the media. At this stage no estimated financial impact or estimated amount can be ascertained."

'CBI searched GAIL Director's (Marketing) premises'

"This is to inform that Central Bureau of Investigation has registered a FIR against Shri ES Ranganathan, Director (Marketing) of the Company and other private persons on charges of criminal conspiracy, demand and obtaining undue advantage by public servant, taking undue advantage to influence public servant, bribing public servant etc," GAIL told the stock exchanges.

"Further, Central Bureau of Investigation searched at the premise(s) of Shri ES Ranganathan, Director (Marketing) of the Company and other private persons in connection with the said case," it added.

Backdrop

The CBI had arrested the Director (Marketing) of GAIL, along with five others, in a case of alleged corruption and bribery on January 16. The CBI said that the accused were produced before the competent court in Delhi and the court remanded three accused to six days' police custody and the remaining three to one-day police custody. The CBI had registered a case on January 14 against eight accused, including "Director (Marketing) GAIL, private persons, private companies and unknown public servants/private persons on the allegations/ information that the Director (Marketing), Gas Authority of India Ltd. (GAIL), Bhikaji Cama Place, New Delhi (a Central PSU), was allegedly indulging into corrupt and illegal activities in conspiracy with other accused who were acting as his middleman, by obtaining bribe from private companies for buying petrochemical products marketed by GAIL," said the CBI.

The CBI laid a trap and apprehended a private person and a director of a private company based in 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.

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