The officers did not arrest Neeraj Singhal despite CBI Director Ranjit Sinha's orders.
The judge had on Wednesday dismissed the anticipatory bail plea of Singal.
Earlier, a special CBI court had issued non-bailable warrants against Neeraj Singal, Vice Chairman and Managing Director of Bhushan Steel Ltd, and Purushotam Totlani, an alleged middleman, in connection with the Syndicate Bank bribery case.
At the NSE, it tumbled 8.45 per cent to Rs 132.10.
Apart from being the most successful cases under the IBC, Bhushan Steel and Essar Steel are among the best steel assets in the country. They also ended up helping their lenders get back a significant chunk of the money while allowing Tata Steel to consolidate its position and giving the world's two largest steel makers - ArcelorMittal and Nippon Steel - a strong foothold in India. A significant contrast was the pace at which these two cases were resolved under the bankruptcy code. In the annals of the Insolvency and Bankruptcy Code (IBC), Essar Steel may go down in history as the most noticeable resolution with the world's largest steelmaker, ArcelorMittal, and the incumbent, Ruia family, locked in an intense battle spanning more than two years and ultimately resulting in full recovery of the principal amount for the financial creditors.
Special CBI Judge Swarana Kanta Sharma observed that the accused was 'concealing himself' and despite issuance of non bailable warrants against him twice, he could not be arrested by the probe agency.
The haircut for major banks stands at 52 per cent, if the dues of Jaypee Infrastructure, Lanco Infrastructure and Era Infrastructure are kept out of the calculation.
Lawyer of both the accused, asserted that CBI's case against both his clients was merely on the basis of recorded conversations allegedly intercepted by the agency.
His statement assumes significance in the light of scams in the state-owned banks.
Here is the complete list of ministers in Modi 3.0 and their portfolios:
The posts of Chairman and MD in the private sector are held separately.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
For the first time, PSU banks will have a non-executive chairman, giving operational responsibility to managing director and chief executive officer.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
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