GAIL Director ES Ranganathan held by CBI in a bribery case has been granted Regular Bail by the Rouse Avenue District Court.
The Central Bureau of Investigation (CBI) has on January 16 arrested the Director (Marketing) of Gas Authority of India Limited (GAIL) ES Ranganathan, and five others in an alleged bribery case of over Rs 50 lakh from perspective beneficiaries of a policy of providing discounts to dealers selling products of the Maharatna PSU.
About Rs 1.29 crores cash, gold jewellery worth Rs 1.3 crores an other valuables were recovered during searches from the premises of the accused after the central agency had conducted searches at eight locations including the office and residence of Ranganathan.
On January 17 , the government suspended ES Ranganathan,after his arrest by the CBI over allegedly taking bribes to give discounts to private companies buying petrochemical products from the state-owned gas utility.
ES Ranganathan, who was appointed Director (Marketing) of GAIL in July 2020, was to superannuate in May next year.
The CBI hasw booked the accused under IPC sections of criminal conspiracy and provisions of Prevention of Corruption Act.