India, May 30 -- Chintan Raghuvanshi, the Enforcement Directorate (ED) deputy director, arrested by the Central Bureau of Investigation (CBI), initially demanded Rs.5 crore from a Bhubaneswar-based businessman for settling a money laundering case registered against him, but later settled for a Rs.2 crore bribe, according to the CBI's first information report (FIR) in the case.

An ED official said the federal agency would also initiate disciplinary action against Raghuvanshi and could investigate him for money laundering if the CBI probe reveals that he has received bribes in the past and generated proceeds of crime.

Raghuvanshi was arrested by a CBI team late on Thursday following a complaint by businessman Ratikanta Rout who has a ston...