Micromax Owners Arrested for alleged bribery

The Central Bureau of Investigation has arrested Rajesh Aggarwal and Manish Tuli, co-founders of Micromax mobiles, for allegedly bribing the Municipal Corporation of Delhi officials for a banquet hall in the city.

The MCD officials, allegedly caught while accepting the bribe of Rs. 30 lakh, were also arrested from Timarpur area in north Delhi.

Following the raid, the investigating agency also carried out searches at the offices and homes of various MCD officials. Reports say Rs. 40 lakh was recovered from one of the official's home.

CBI sources said they got a tip-off that Mr Aggarwal and Mr Tuli had entered a deal with the engineers of the Delhi civic body to get clearance for construction of a banquet hall in the Wazirpur area in exchange of bribe of Rs. 50 lakh. The price was later negotiated to Rs. 30 lakh, they say