Last night we had reported that the CBI had arrested Micromax co-founder Rajesh Agarwal on account of bribery as he had allegedly bribed an MCD engineer Rs 30 lakh to get clearance for building a banquet hall. Now, the company has officially released a statement saying that Mr Agarwal has stepped down from daily duties and recused himself from responsibility. The company also claims that Manish Tuli has no links with the company. Read on to see the entire statement. Also Read - Micromax to bring a budget phone with price likely under Rs 10,000: Check launch date
Rajesh Agarwal, co-founder, Micromax Informatics Limited has stepped down from his duties and recused himself from the responsibilities. He will focus on the legal proceedings to clear his name of the alleged charges. Also Read - 5 delayed smartphone launches in India due to COVID-19 in May 2021
Following the media reports that owners of Micromax have been arrested by CBI, Micromax Informatics Limited clarifies that Manish Tuli has no association with the company. Rajesh Agarwal was present in his personal capacity with Manish Tuli.