The Central Bureau of Investigation (CBI) on Wednesday arrested the co-founder and managing director ofMicromax Informatics, Rajesh Agarwal, and partner Manish Tuli, catching them red-handed in a bribery case. 

A CBI spokesperson said Agarwal and Tuli were caught paying Rs 30 lakh as bribe to certain officials of the Municipal Corporation of Delhi (MCD) as they wanted to set up a banquet hall in Wazirpur in North Delhi. 

The demand from the MCD officials was apparently for Rs 50 lakh, a CBI official said. 

Vikas Jain, co-founder and business director of Micromax, declined immediate comment on the matter. The Gurgaon-based company is the 12th largest mobile handset maker in the world, according to its website. 

Two MCD officers accepting the bribe on the behalf of a superintending engineer named Rajesh Wadhwa were also caught red-handed by the CBI. The probe agency is conducting further searches at 15 places and has recovered Rs 40 lakh in cash already from the premises of one junior engineer. (PTI)