CLB member Vasudevan held in bribery case.

THE Central Bureau of Investigation ( CBI) has lodged a corruption case and arrested the Company Law Board ( CLB) member, R. Vasudevan, for demanding and accepting a bribe. Vasudevan was arrested red- handed by the CBI on Monday while accepting Rs 7 lakh as bribe for giving a favourable order in a dispute involving a media company.

The investigating agency had got information that Vasudevan was demanding the bribe from a dissenting group of this particular company -- two parties from this company had filed petitions before the CLB. CBI spokesperson Harsh Bhal said Vasudevan had to decide on the fate of these petitions and hence had demanded the bribe.

" An advocate acted as the conduit for giving this bribe. He took Rs 10 lakh to a company secretary, Manoj Banthia, who in turn kept Rs 3 lakh at his residence and took the rest of the amount to the house of Vasudevan.

CBI arrested both Vasudevan and Banthia red- handed while the bribe was being paid. Vasudevan was accepting the bribe while Banthia was delivering the illegal gratification," Bhal said, adding that a case on charges of corruption and criminal conspiracy has been lodged against Vasudevan, Banthia, the advocate and some unknown persons.

CBI then searched Vasudevan's house and recovered Rs 55 lakh in cash, said Bhal. It also recovered Rs 3 lakh from Banthia's house, he said. Raids at the advocate's house revealed documents belonging to multiple offices of the media house. The advocate has not been arrested by the CBI. Sources say CBI had been monitoring the activities of Vasudevan and Banthia since getting secret information a few days ago about the demand for bribe.

" Incriminating documents recovered during searches of the premises of accused persons are being scrutinised. Searches are still going on and further investigation is in progress," Bhal said.

Vasudevan and Banthia were arrested and produced on Tuesday in the designated court at Delhi before the special CBI judge O. P. Saini who sent them to police custody till November 30. CBI searches are continuing at seven locations in Delhi, Kolkata and Chennai, said CBI officials, adding that the arrested officials would be grilled further.

" Huge amount of cash of Rs 55 lakh, including the alleged bribe amount of Rs 7 lakh, has been recovered from the house of accused R. Vasudevan. Prayer seeking their custodial interrogation is allowed," Judge O. P. Saini said. The court asked CBI to allow defence lawyers to meet Vasudevan and Banthia once daily for half an hour.

Opposing CBI's plea the counsel appearing for 58- year- old Vasudevan, said, " Nobody should be condemned without being heard.

Moreover, if this happens to a judicial officer, the judiciary will not be able to function." Vasudevan, who hails from Tamil Nadu and Banthia from Kolkata, are required to be taken to their respective native places to unearth the case, CBI said.

The agency hinted that the role of a prominent lawyer in the case was also under the scanner. Banthia was arrested while he was emerging from the house of Vasudevan after paying the illegal gratification. The searches were conducted subsequently, it said.

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