Dilip Buildcon informs all employees in CBI custody have been released; Stock remains under pressure

18 Jan 2022 , 11:14 AM

Dilip Buildcon Limited informed the exchanges that the four employees who were taken into custody by investigating agency have been released and now nobody from the company is under the custody of investigating agency as of now.

“All the rest four employees of the company who were taken in custody by the investigating agency have also been released vide order dated January 15, 2022, & January 17, 2022, passed by the Court of Hon’ble Special Justice. No one from the company is under the custody of the investigating agency.

The company has acted in a bonafide manner and had fully cooperated with the investigating agency during such investigation period,” company said.

Construction and infrastructure development company Dilip Buildcon earlier this month said that its Executive Director (ED), who was in the custody of the Central Bureau of Investigation (CBI), has been released and the company’s operations were not interrupted due to this development.

It also had responded to a news report about raids at the premises of the company by the CBI, a few days after the arrest of its Executive Director while trying to give a bribe of Rs20 lakh to an official of the National Highways Authority of India (NHAI), Dilip Buildcon had on January 2 denied the bribery allegations.

Meanwhile, the company has completed the project ‘four laning of Yavatmal to Wardha (Package-III) section of NH-361 under NHDP Phase -IV on Hybrid Annuity mode in Maharashtra.

At around 11.18 am, Dilip Buildcon Ltd was trading at Rs359.50 per share down by Rs17.35 or 4.6% from its previous closing of Rs376.85 per share on the BSE.