Chennai, Aug 30 (IANS): The Central Bureau of Investigation (CBI) Tuesday arrested P. Kishore, managing director of listed company Everonn Education Ltd and Additional Commissioner of Income Tax Andasu Ravindar in a bribery case here.

According to a CBI release, Ravindar accepted Rs.5 million as bribe to conceal a taxable income of Rs.60 crore out of Rs.116 crore unearthed during a search and survey operation in Everonn's premises here Aug 4.

The Rs.301 crore revenue Everonn provides educational courses online.

The CBI said Kishore, after the search operations by the Income Tax department, contacted Ravindar through a chartered accountant to reduce the tax liability.

After negotiations, Ravindar agreed to suppress Rs.60 crore of taxable income on the condition that he be paid a bribe of Rs.5 million.

As per Ravindar's instructions, Kishore brought the bribe money to the former's residence in a cardboard box used for packing fans.

Ravindar wanted to shift the bribe money to some unknown place from his residence through another individual Uttam Chand Bohra, who too has been arrested.

Acting on a tip-off, the CBI apprehended Ravindar and Bohra when they were trying to remove the Rs.5 million to a secret location.

According to the CBI, searches are being conducted at Mumbai, Hyderabad, Visakhapattinam, Bangalore and Chennai and they have seized Rs.4.8 million from the residence of Bohra and Rs.1 million from other places.

The CBI has also seized 1.8 kg gold jewellery from Ravindar's house.