The Central Bureau of Investigation has filed a case against Jain and 11 others, including two directors of a Delhi-based company, and is further investigating the allegations. Jain will be produced before a court today.
In the broader space, Syndicate Bank tanked 7 percent after chairman and managing director of the bank arrested by CBI in bribery case. Bhushan Steel (down 3.5 percent) and Prakash Industries (down 20 percent) as media report suggested that Sudhir Kumar Jain allegedly raised the credit limit for both these companies.
The CBI said it searched 20 locations in four cities and found "incriminating documents" related to the case. It also found cash, jewellery and property documents from Jain's house, the agency said.
In the broader space, Syndicate Bank tanked 7 percent after chairman and managing director of the bank arrested by CBI in bribery case. Bhushan Steel (down 3.5 percent) and Prakash Industries (down 20 percent) as media report suggested that Sudhir Kumar Jain allegedly raised the credit limit for both these companies.
The CBI said it searched 20 locations in four cities and found "incriminating documents" related to the case. It also found cash, jewellery and property documents from Jain's house, the agency said.
Syndicate Bank closed at Rs 134.45, down Rs 10.20, or 7.05 percent, Prakash Industries was at Rs 89.00, down Rs 22.20, or 19.96 percent while Bhushan Steel ended at Rs 381.05, down Rs 13.80, or 3.49 percent on the BSE.
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