The co-founder and director of mobile company Micromax has been sent into custody for seven days after he was caught while allegedly paying a 30-lakh bribe to have an illegally-constructed building owned by him be recognized as legitimate.

Rajesh Agarwal of Micromax Technologies Pvt Ltd was found by the Central Bureau of Investigation at a Municipal Corporation of Delhi official’s home on Wednesday night, right after the bribe had allegedly been handed over.
Six people have been arrested with him.

Rajesh Agarwal, co-founder, Micromax Informatics Limited has stepped down from his duties and recused himself from the responsibilities. He will focus on the legal proceedings to clear his name of the alleged charges.
Following the media reports that owners of Micromax have been arrested by CBI, Micromax Informatics Limited clarifies that Manish Tuli has no association with the company. Rajesh Agarwal was present in his personal capacity with Manish Tuli.
August 8, 2013

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