GAIL’s Director Arrested by CBI on Charges of Corruption and Illegal Conspiracy

The CBI arrested E S Ranganathan, Director (Marketing) of Gas Authority of India Ltd. (GAIL), in a case of alleged bribery of over Rs. 50 lakhs for giving discounts to private companies buying Petro chemical products marketed by GAIL.

Based on information of a bribery exchange, the CBI teams conducted a trap operation in which two middlemen Pawan Gaur and Rajesh Kumar were nabbed with the bribe amount of about 10 lakh which was collected on behalf of Ranganathan. Besides Ranganathan, Gaur and Kumar, N Ramakrishnan Nair (who had allegedly collected bribes), businessmen Saurabh Gupta and Aditya Bansal were arrested in this regard.

CBI then conducted searches at 8 locations including the office and residence of Ranganathan. CBI recovered cash of Rs. 1.29 crore and other valuables of estimated value of Rs. 1.25 crore from the premises of Ranganathan. Subsequent, searches led to recovery of another Rs. 84 lakhs.

It is alleged that Ranganathan was “indulging into corrupt and illegal activities in criminal conspiracy” with middlemen for giving discounts to private companies buying Petro chemical products marketed by GAIL in exchange of illegal gratification.

CBI bas booked the accused under IPC sections of criminal conspiracy and provisions of the Prevention of Corruption Act. Following the arrest, CBI request the court for remand of the accused. The court on Monday sent Ranganathan to six-day custodial remand of CBI.

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