The official has been dealing with matters related to alleged violations by Elder Pharmaceutical

The CBI on Saturday arrested Director General, Corporate Affairs, on allegations of receiving bribes.

According to the agency, accused B.K. Bansal is an Additional Secretary level official. He along with Vishwadeep Bansal has been arrested for allegedly receiving Rs.9 lakh as bribes for extending favours to a corporate firm. The money change hands outside a Delhi hotel.

“Subsequent searches at six places led to seizure of Rs.54 lakh,” said a CBI official.

The CBI official said the Corporate Affairs DG had been dealing with matters related to certain alleged violations committed by Mumbai-based company Elder Pharmaceutical. The alleged violations were detected during an inspection by the Regional Director, Western Region (Mumbai) of the Ministry of Corporate Affairs.

The company's chief operating officer, Anuj Saxena, allegedly sought the assistance of Delhi-based businessman Vishwadeep Bansal who worked as a distributor for him.

“The Director General, Corporate Affairs allegedly demanded a bribe of Rs. 50 lakh for not recommending investigation by the Serious Fraud Investigation Office, on the inspection report. The amount was scaled down to Rs.20 lakh through negotiations,” said the official. Alleging that the accused officer had earlier accepted Rs.11 lakh, the agency said it arrested him when he was receiving the remaining amount. Among those named in the case is also Anuj Saxena.