The CBI has arrested GAIL Director (Marketing) E S Ranganathan for his alleged involvement in Rs 50 lakh bribery case.

The CBI had unearthed the alleged bribery scam involving Ranganathan, middlemen, and businessmen and arrested five individuals on Saturday, reports said.

The CBI had conducted raids at eight locations including the office and residence of Ranganathan.

“Cash of Rs 1.29 crore (approx), and gold jewellery and other valuables (having app value of Rs 1.25 crore) recovered during searches from the premises of said accused (Ranganathan),” CBI Spokesperson RC Joshi said.

Ranganathan allegedly was collecting bribes from prospective beneficiaries of discounts to private companies buying petrochemical products marketed by the Maharatna PSU.

He was “indulging into corrupt and illegal activities in criminal conspiracy” with middlemen Pawan Gaur and Rajesh Kumar who is also director of Rishab Polychem Pvt. Ltd based at Bahudargarh Road, Delhi.

The duo allegedly acted as Ranganathan’s middlemen by obtaining bribes from the private companies buying petrochemical products marketed by the Gas Authority of India Ltd (GAIL), the FIR alleged.

Based on information of one such bribery exchange, the CBI teams had laid a trap in which two middlemen Gaur and Kumar were held with the bribe amount of about Rs 10 lakh which was collected on behalf of Ranganathan, the alleged the central investigating agency

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