News Karnataka
Thursday, February 02 2023

CBI Special Court grants Interim bail to Jayachandra

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Bengaluru: The CBI Special Court on Thursday granted an interim bail to suspended state government official S C Jayachandra till December 22. The CBI Special Court which took up hearing the case has granted a conditional bail on Thursday afternoon. However, Jayachandra may be arrested at any moment since the Anti-Corruption Bureau (ACB) had also registered a first information report (FIR) against him.

CBI arrests RBI official for money laundering-1The CBI had registered a first information report (FIR) against seven people, including S C Jayachandra, Chief Project Officer of the State Highway Improvement Project, and two bankers, in this connection recently. The CBI special court has remanded the two contractors in five-day police custody.

The others named in the FIR are: Suryanarayana Bairy, Chief Manager of Karnataka Bank, Indiranagar branch; Umashankar Renuka, Manager of Dhanalaxmi Bank, J C Road branch; Ibrahim Shereef of a private company, Secure Value India Ltd, represented by its Managing Director Ravi Goel. Secure Value India Ltd is involved in replenishing ATMs with new banknotes.

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