Nalco chief arrested by CBI for taking bribe

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NEW DELHI: Chairman-cum-managing director of National Aluminium Company Ltd (Nalco), A K Srivastava, his wife Chandni and two others were arrested by the CBI on Friday.

Srivastava was accused of accepting bribes running into several lakh rupees.

The CBI recovered 10 kg of gold, and about Rs 30 lakh from the Srivastavas. The agency was searching their premises and bank lockers till late at night.

According to CBI, Bhushan Lal Bajaj and his wife Anita, who were arrested along with the Srivastavas, were conduits for some company that was eyeing a major contract with the Navratna PSU.

A mechanical engineer, Srivastava joined Nalco on October 2, 2009 as CMD. He has been with NTPC and Indian Petrochemicals Corporation in the past.

This is the second scandal in recent years involving CMDs of Nalco, Asia’s largest integrated aluminium company.

Read more: Nalco chief arrested by CBI for taking bribe – The Times of India http://timesofindia.indiatimes.com/india/Nalco-chief-arrested-by-CBI-for-taking-bribe/articleshow/7577819.cms#ixzz1F1l2M5Os
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