ED released from CBI custody; operations uninterrupted: Dilip Buildcon

Construction and infrastructure development company Dilip Buildcon Ltd on Saturday 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.

Responding 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 Rs 20 lakh to an official of the National Highways Authority of India (NHAI), Dilip Buildcon had on January 2 denied the bribery allegations.

However, the executive director of the company was taken in custody by the CBI for interrogation, the company had told exchanges.

In an exchange filing on Saturday, the company said, "... this is to bring to your kind notice that Executive Director of the company has been released from the custody of the investigating agency vide order dated 07-01-2O21 passed by the Court of Honble Special Judge, CBI."

It said that the company acted in a bonafide manner and fully cooperated with the investigating agency during the investigation period.

"In this regard it is further stated that despite all of what is stated above i.e., the investigation by the agency, the projects of the company are in full swing, and the operations of the company are uninterrupted. It is hopeful that soon the misunderstandings would stand clarified to all concerned," the filing said.

Earlier today, Dilip Buildcon said that its wholly owned subsidiary 'Sannur Bikarnakette Highways Private Limited' has received the financial closure letter from NHAI for four laning of 45.01-km long Sannur to Bikarnakette section in Karnataka.

Shares of the company closed 1.38 per cent lower at Rs 418.95 on the BSE on Friday.

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