Bribe: NALCO chief suspended

Feb 26, 2011 |

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New Delhi: State-run aluminium company NALCO's chief A. K. Srivastava, who was caught allegedly taking bribe and is in CBI custody now, has been suspended by the government.

The mines ministry suspended Srivastava based on CBI charges, a top official said. B. L. Bagra, Director (Finance), has been given the additional charge of chairman-cum-managing director till further orders, the official added.

"Mines minister Dinsha Patel and senior ministry officials went through the CBI report. Based on the developments, Srivastava has been suspended and the senior most NALCO official B. L. Bagra has been given charge of CMD till further orders," the official said.

The CBI on Friday arrested Srivastva, his wife and two others in a bribery case and recovered about 10 kgs of gold bricks and jewellery valued at around Rs 2.13 crores as also Rs 30 lakh from them.

A Delhi court on Saturday remanded all the four accused in CBI custody till March 3.

Besides Srivastava and his wife Chandini, the other two alleged middle man Bhushan Lal Bajaj and his wife Anita.

National Aluminium Company Limited (NALCO) is Asia's largest integrated aluminium producer.

The Bhubaneshwar-headquartered Navratna company produced 15.92 lakh tonnes of alumina last fiscal and has a target of producing 16.80 lakh tonnes of alumina this fiscal.

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