ED released from CBI custody; uninterrupted operations: Dilip Buildcon

Construction and infrastructure development company Dilip Buildcon Ltd said on Saturday that its executive director (ED), who was in the custody of the Central Bureau of Investigation (CBI), had been released and the operations of the company no ‘had not been interrupted because of this development.

Responding to a report on raids on the premises of the company by the CBI, a few days after the arrest of its executive director while trying to pay a bribe of Rs 20 lakh to an official of the National Highways Authority of India (NHAI), Dilip Buildcon on January 2 denied the corruption allegations.

However, the executive director of the company was taken into custody by the CBI for questioning, the company had told Exchanges.

In an exchange filing on Saturday, the company said: “… this is to alert you that the executive director of the company has been released from custody of the investigative agency. Special Judge of the Court of Honor, CBI. “

He said the company acted in good faith and fully cooperated with the investigating agency during the investigation period.

“In this regard, it is further stated that despite everything stated above, i.e. the agency’s investigation, the company’s plans are in full swing and the operations of the company are in full swing. “business are uninterrupted. It is hoped that soon the misunderstandings would be clarified to all concerned,” said the file.

Earlier today, Dilip Buildcon said its wholly owned subsidiary ‘Sannur Bikarnakette Highways Private Limited’ received the financial close letter from NHAI for four 45.01 km long lanes between Sannur and Bikarnakette in Karnataka.

The company’s shares closed down 1.38% at Rs 418.95 on BSE on Friday.

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