NEW DELHI: The Central Bureau of Investigation (CBI) has arrested a panel advocate of the Indian Bank in Kolhapur for allegedly demanding and accepting a bribe of Rs1.70 lakh from a complainant. The central agency reported that the arrest was made on Tuesday.

The advocate had initially demanded a bribe of Rs2.5 lakh, which was later negotiated down to Rs1.70 lakh, in exchange for deferring the possession of a mortgaged property under the SARFAESI Act.

The accused was caught red-handed during a trap laid by the CBI at his office. In a statement, the CBI said, "The Central Bureau of Investigation (CBI) has arrested the accused panel advocate of Indian Bank, Kolhapur (Maharashtra), for demanding and accepting a bribe of Rs1.70 lakh from the complainant."

The statement further noted, "CBI registered a case on December 10, 2024, based on a complaint against the accused panel advocate of Indian Bank, Kolhapur, a resident of Ichalkaranji.

It was alleged that the accused demanded a bribe of Rs2.5 lakh from the complainant, later negotiated to Rs1.80 lakh, to defer the possession of the mortgaged property offered for a loan of Rs5.5 crore, which had subsequently become a non-performing asset (NPA). The accused eventually agreed to reduce the bribe to Rs1.70 lakh."

The CBI added, "A trap was laid, and the accused was caught red-handed at his office while demanding and accepting the bribe of Rs1.70 lakh from the complainant." Searches conducted at the residential and official premises of the accused in Ichalkaranji led to the recovery of incriminating documents. The agency stated,

"The accused will be produced before the Hon'ble District Judge-1 at Ichalkaranji, Kolhapur (Maharashtra), on December 11, 2024." The investigation is ongoing.