Arrested Syndicate Bank chairman SK Jain suspended

By Super
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    NEW DELHI: Two days after CBI arrested him for allegedly accepting bribe of Rs 50 lakh to enhance the credit limit of some companies, the government on Monday suspended Syndicate Bank chairman and managing director SK Jain.

    Financial services secretary GS Sandhu said the finance ministry received a preliminary report from the CBI on the arrest of Jain on Saturday, based on which he was suspended.

    Jain, 54, was appointed CMD of state-owned Syndicate Bank in July last year for a period of five years. He was one of the youngest CMDs of a public sector bank and was due to retire in 2020. M Anjaneya Prasad and TK Srivastava are the two EDs of the Bangalore-based bank.

     

    Jain, along with seven other accused were yesterday remanded in CBI custody for four days as the agency plans to probe various other angles into the case that may emerge from the telephonic transcripts of the official and conduits.

    After completing necessary formalities, the CBI placed Jain and seven others - chairman and managing director of Prakash Industries Ved Prakash Agarwal and director Vipul Agarwal, chartered accountant Pawan Bansal, Vineet and Puneet Godha (relatives of Jain); Vijay Pahuja and Pankaj Bansal under arrest.

    PTI

    Read more about: syndicate bank
    Story first published: Tuesday, August 5, 2014, 9:04 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more