financetom
Business
financetom
/
Business
/
CBI arrests joint DG of foreign trade, two others in bribery case
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CBI arrests joint DG of foreign trade, two others in bribery case
Sep 6, 2023 10:58 AM

The CBI has arrested Joint Director General of Foreign Trade N Ramesh posted at Visakhapatnam in Andhra Pradesh and two others in an alleged bribery case, officials said Wednesday.

Share Market Live

NSE

Besides Ramesh, the other two arrested persons included Section Head Sreebhashyam Venkata Ranganathan in Regional Authority, DGFT Visakhapatnam, and Managing Director of Kireeti Indenting and Exim Services Private Limited P Sita Rama Raju, they said.

The CBI had swung into action after getting information that Ramesh and Ranganathan were allegedly demanding and collecting huge bribes for issuing new import and export certificates, renewals and other related licences through DGFT consultants and conduits.

It is alleged that Ramesh had taken Rs 4 lakh while Ranganathan received Rs 50,000 as bribe from Raju, the officials said.

All the accused were produced before a special court in Visakhapatnam on Wednesday which sent them to judicial custody, they said.

The office of the Regional Authority, Directorate General of Foreign Trade (DGFT) promotes exports and imports. The DGFT also issues various licences — import-export certificate, export promotion of capital goods, and export obligation discharge certificate, among others to various firms in India, the CBI said in its FIR.

The CBI mounted surveillance which provided further information that Managing Director of Kireeti Indenting Raju had told Ranganathan that 18 files pertaining to Pattabhi Agro Foods Private Limited were cleared and seven more files are pending in JDGFT office in Visakhapatnam.

Raju allegedly told Ranganathan that he would be arriving in Visakhapatnam on Tuesday to handover the alleged bribe amount of Rs 4 lakh to Ramesh as demanded by him, for clearing the files pertaining to his client companies including Pattabhi Agro Foods Pvt. Ltd, Blue Sea Foods, and Sailaja Agro Foods.

The CBI also received information that Raju had directed his staff Sidhu to collect Rs 4 lakh from Managing Director of Jayaraj Fortune Packaging Pvt. Ltd SR Prasad Pendyala in Guntur and bring the amount to Visakhapatnam for paying Ramesh as bribe, the FIR alleged.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Formfactor Insider Sold Shares Worth $746,144, According to a Recent SEC Filing
Formfactor Insider Sold Shares Worth $746,144, According to a Recent SEC Filing
May 8, 2024
05:20 PM EDT, 05/08/2024 (MT Newswires) -- Sheri Rhodes, Director, on May 07, 2024, sold 13,319 shares in Formfactor ( FORM ) for $746,144. Following the Form 4 filing with the SEC, Rhodes has control over a total of 7,634 shares of the company, with 7,634 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1039399/000162828024021733/xslF345X03/wk-form4_1715201277.xml Price: 57.00, Change: +0.86, Percent Change: +1.53 ...
Houlihan Lokey Fiscal Q4 Adjusted EPS, Revenue Increase; Raises Dividend
Houlihan Lokey Fiscal Q4 Adjusted EPS, Revenue Increase; Raises Dividend
May 8, 2024
05:19 PM EDT, 05/08/2024 (MT Newswires) -- Houlihan Lokey ( HLI ) reported fiscal Q4 adjusted earnings late Wednesday of $1.27 per diluted share, up from $1.11 a year ago. Analysts polled by Capital IQ expected $1.23. Revenue for the quarter ended March 31 was $520.5 million, up from $444.8 million a year earlier. Analysts surveyed by Capital IQ expected...
Steris Fiscal Q4 Non-GAAP EPS, Revenue Rise; Fiscal 2025 Outlook Set -- Share Rise After Hours
Steris Fiscal Q4 Non-GAAP EPS, Revenue Rise; Fiscal 2025 Outlook Set -- Share Rise After Hours
May 8, 2024
05:21 PM EDT, 05/08/2024 (MT Newswires) -- Steris ( STE ) reported fiscal Q4 adjusted net income late Wednesday of $2.58 per diluted share, up from $2.30 a year earlier. Analysts polled by Capital IQ expected $2.35. Revenue for the quarter ended March 31 was $1.52 billion, up from $1.38 billion a year earlier. Analysts surveyed by Capital IQ expected...
Stantec Edges Up After Hours as its Q1 Adjusted Profit Rises 27%, Topping Expectations
Stantec Edges Up After Hours as its Q1 Adjusted Profit Rises 27%, Topping Expectations
May 8, 2024
05:20 PM EDT, 05/08/2024 (MT Newswires) -- Stantec ( STN ) edged higher in after-hours New York trading after the company on Wednesday said its first-quarter adjusted profit rose 27% on revenue gains. The engineering and design company said its adjusted profit, which excludes most one-time items, rose to C$103.0 million, or C$0.90 per share, from C$80.9 million, or C$0.73,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved