Kolkata: A special Central Bureau of Investigation court on Monday convicted a former Securities and Exchange Board of India (Sebi) official for demanding a bribe of Rs 25 lakh from Rose Valley Group chief Gautam Kundu in 2010. The court said the sentence will be pronounced on Tuesday.
The court found RP Singh, who was serving as an assistant general manager at Sebi at the time, guilty on the basis of a complaint filed by Kundu with the CBI’s anti-corruption wing. Kundu had alleged that Singh sought the bribe in exchange for accepting documents related to his company, the Rose Valley Group.
Following the complaint, CBI officials laid a trap. Kundu withdrew the bribe amount, which was treated with a chemical, and handed it over to Singh. As soon as Singh accepted the money, the CBI team caught him red-handed and arrested him.
Singh was subsequently remanded to judicial custody and placed under suspension by Sebi.
