India, May 24 -- The Central Bureau of Investigation (CBI) on Friday submitted its charge sheet in a Mumbai court against five persons, including the former chairperson and managing director (CMD) of public sector enterprise, BECIL (Broadcast Engineering Consultants India Limited), Noida, and the founder of a Mumbai firm, in a case linked to alleged irregularities in the sanction and disbursal of multi-crore loans and bribery transactions.

The CBI probe found that George Kuruvilla, former CMD of BECIL, was allegedly paid undue advantages of Rs.3 crore by an official of a Mumbai-based firm called Green Billions Limited, for favours. The CBI's Mumbai unit had initiated its probe on September 3 last year, based on a reference from the Union...