The Central Bureau of Investigation has arrested an Assistant General Manager of Security Exchange Board of India (SEBI) here for demanding and accepting a bribe of Rs 25 lakh from a complainant.

According to an official statement issued here today, R P Singh, the SEBI official, asked the Director of a city-based group of companies to furnish some documents and other particulars of the business being transacted by one of its companies as a corporate agent of LIC and GIC. He demanded the bribe from the complainant for not pursuing the matter.

The CBI laid a trap and the SEBI official was caught red handed while accepting Rs 25 lakh from the complainant yesterday.

A cash of Rs 28 lakh and other documents showing huge investments in movable and immovable property were recovered from the residents of the accused, the statement said.

The accused was produced before the special judge, Alipore, and remanded to judicial custody till January 12.

UNI