Terming him the “key accused and key beneficiary,” a Special CBI court on Wednesday denied anticipatory bail to Neeraj Singhal, Vice-Chairman and Managing Director of Bhushan Steel, in the Rs. 50-lakh bribery case involving suspended Syndicate Bank CMD S.K. Jain. Special CBI Judge Swarana Kanta Sharma rejected Mr. Singhal’s bail saying he was in constant touch with the bank CMD to save his company’s account from becoming a Non-Performing Asset due to non-payment of an overdue loan of Rs. 130.75 crore and said the case involved huge public money.
