financetom
Business
financetom
/
Business
/
CBI arrests Power Grid Corporation ED and 5 others in bribery case involving Tata Projects
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CBI arrests Power Grid Corporation ED and 5 others in bribery case involving Tata Projects
Jul 7, 2022 6:47 AM

The Central Bureau of Investigation (CBI) on Thursday arrested Power Grid Corporation Executive Director BS Jha and five other people in a bribery case involving Tata Projects.

Share Market Live

NSE

The agency has arrested five employees of Tata Projects, which include vice-president Deshraj Pathak and assistant vice-president RN Singh.

The agency conducted searches at around 11 places including New Delhi, Gurugram, Noida, and Ghaziabad in connection with the case. During the searches, CBI recovered Rs 93 lakh cash from the premises of BS Jha.

Also Read:

Joint drugs controller nabbed taking Rs 4 lakh bribe to clear Biocon diabetes injection

Jha, who was posted in Itanagar, was under the surveillance of CBI during which the agency got input that he was allegedly receiving bribes from the executives of Tata Projects and other companies for granting favours.

Tata Projects was given the contracts under World Bank-funded North Eastern Region Power System Improvement Project, a comprehensive scheme for improving the power infrastructure of the region, they said. The company was working on the Sikkim and Arunachal Pradesh regions under the scheme.

The role of Desh Raj Pathak, Executive Vice President and SBU Head (Transmission & Distribution) India, SAARC and SEA at Tata Projects Ltd; and R N Singh, AVP Business Head--Distribution came to the fore while the CBI was keeping an eye on Jha's activities.

Also Read: Top Vivo executives may have fled India amid ED money laundering probe

The CBI has alleged that Jha was acting in pursuance of a criminal conspiracy extending favours to Tata Projects for various work, including preparation of inflated bills, early clearing of bills, and price variation clause, in return of illegal gratification from the company. All the six arrested accused will be produced before Panchkula court on Thursday.

"We adhere to strong norms in all our business transactions and have zero tolerance for any compromise on the same. We would extend our complete support to the relevant authorities," Tata Projects said in a statement.

(Edited by : Abhishek Jha)

First Published:Jul 7, 2022 3:47 PM IST

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 >
Abbott Laboratories Insider Sold Shares Worth $337,116, According to a Recent SEC Filing
Abbott Laboratories Insider Sold Shares Worth $337,116, According to a Recent SEC Filing
May 26, 2025
05:07 PM EDT, 05/02/2025 (MT Newswires) -- Sally E. Blount, Director, on April 30, 2025, sold 2,600 shares in Abbott Laboratories ( ABT ) for $337,116. Following the Form 4 filing with the SEC, Blount has control over a total of 34,058 common shares of the company, with 34,058 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1800/000141588925011837/xslF345X05/form4-05022025_090502.xml ...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Cipher Mining's Bitcoin Production Fell in April
Cipher Mining's Bitcoin Production Fell in April
May 26, 2025
04:30 PM EDT, 05/02/2025 (MT Newswires) -- Cipher Mining ( CIFR ) mined 174 bitcoins in April, down from 210 in March. Bitcoin sales in April were 350 bitcoins, leaving holdings at 855 bitcoins, the company said Friday in a statement. ...
Footwear brands including Nike and Adidas ask Trump for tariff exemption
Footwear brands including Nike and Adidas ask Trump for tariff exemption
May 26, 2025
May 2 (Reuters) - The Footwear Distributors & Retailers of America trade group (FDRA) urged U.S. President Donald Trump to exempt shoes from reciprocal tariffs in a letter signed by makers including Nike ( NKE ), Adidas America and Skechers. WHY IT'S IMPORTANT The FDRA letter, dated April 29, was signed by 76 footwear companies such as Deckers Brands ,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved