Accused Binu Nanu alleges 15 percent of contract cost was paid as bribe
Accused Binu Nanu alleges 15 percent of contract cost was paid as bribe
The CBI has made fresh arrest in the Commonwealth Games scam. Binu Nanu, head of event management company Mero Firm India was taken into custody after he admitted to paying kickbacks to Organising Committeeu00a0 officials. Sources in the CBI said that Nanu was awarded the overlays contract for cluster number 7 (Games village) for Rs 102 crore. 
Nanu reportedly told CBI that kickbacks worth 15 percent of the contract cost were paid to the Organising Committee officials.
Nanu has been sent to a 4-day remand and CBI will question him regarding the kickbacks. "We expect some new revelations after we question him in regarding the financial irregularities in the contracts for Commonwealth Games," a senior official said.
Nanu had been named in the recent FIR filed by the CBI regarding huge irregularities in the financial overlays of the Games. The CBI had raided his offices and companies after which he was arrested.
"We had found documents from his house during our raids which gave us evidence to apprehend him and now he has confessed of paying kickbacks," the sources said.u00a0
| What are overlays? |
| Overlays are a protective covering consisting, for example, of a layer of boards applied to the studs and joists of a building to strengthen them and serve as a foundation for a weatherproof exterior. |
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