CBI arrests Ajay Garg, millionaire 'associate' of Bansal's nephew who supplied equipment to Rlys

Ajay GargAjay Garg companies include IEC Gensets Limited, GFE in Derabassi and CMKL.

The Central Bureau of Investigation Tuesday arrested another suspect in the alleged bribery case involving Railway Minister Pawan Bansal's nephew Vijay Singla. The suspect, Ajay Garg, owns a business group and is said to be a close associate of Singla.

Sources said that the CBI had been tracking Garg's phone and found numerous calls between Singla, Garg and their common friend Sandeep Goyal. All three have been named as accused in the CBI FIR in the case. Garg was arrested after he surrendered in a Delhi court and was remanded in CBI custody until May 9.

A wealthy businessman, Garg is a resident of Sector 6, Panchkula. His companies include IEC Gensets Limited in Derabassi and Barwala, GFE in Derabassi and CMKL in Kathua, Jammu.

The group is a major supplier of electrical equipment to the railways and a host of PSUs and has been in business for 25 years. IEC Gensets is estimated to be a Rs 200 crore firm.

Garg is also into real estate and is known to be close to Singla. Goyal and Garg are also said to be close to Bansal.

While seeking Singla and Goyal's custody for interrogation, the CBI said that after allegedly striking a deal with Narayan Rao Manjunath, a Bangalore-based businessman, and Railway Board Member (Staff) Mahesh Kumar for appointing Kumar as Member (Electrical), Goyal was in constant touch with Garg and Singla.

"Sandeep Goyal was in regular contact with private persons i.e. accused Vijay Singla and accused Ajay Garg, both residents of Chandigarh," the agency said.

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