New Delhi: The CBI custody of NALCO Chairman-cum-Managing Director Abhay Kumar Srivastava and alleged conduit Bhushan Lal Bajaj has been extended for five more days.

Special CBI Judge O P Saini on Thursday sent the duo in CBI custody for five more days as the defence counsel did not oppose CBI's plea. They were arrested on February 25 after CBI recovered about 10 kg of gold bricks and jewellery valued at around Rs 2.13 crores as also Rs 30 lakh in cash from their possession.

"In view of the submissions made at the bar, nature of the case as well as work which is required to be done by the investigating agency, I am satisfied that plea for extension of police custody remand is justified," the court said while extending their CBI's remand till March 8.

CBI's prosecutor Akhilesh told the court that some documents are still to be recovered and both the accused are required to be confronted with the co-accused as well as the documents.

"At this stage, further police custody of five days is required for confrontation of both the accused with other suspects and also their confrontation with the recorded conversation seized from special unit, CBI," the probe agency told the court.

CBI also said Srivastava had agreed to the demand of illegal gratification from G S Bhatia, CMD of Bhatia Group of Industries, through Bajaj.

"Both the accused are yet to be confronted with G S Bhatia, CMD and Jaswinder, Director of Marketing of Bhatia Group of Industries," it said.

CBI said it had asked G S Bhatia to appear before it on February 28 but he did not come here as his doctor had advised him complete bed rest for one week.

The probe agency said it had recovered documents pertaining to the huge investment in movable and immovable properties during the search carried out at office and residential premises of both the accused.

CBI alleged Bhatia Group of Industries had paid a huge bribe amount to Srivastava through Bajaj and Ratan Pal Singh Bhatia, a senior executive (marketing) of the firm, had paid the first installment of bribe amount of Rs 20 lakh to Bajaj.

Ratan Pal Singh Bhatia was arrested on February 28 by CBI in this case and he is now in CBI's custody till March 5.

The defence counsel for both the accused, however, said that they will not oppose CBI's plea seeking five days further custodial interrogation of the accused.

Srivastava told the judge that he has been co-operating with the probe agency and will continue to do so.

"I am co-operating with CBI and I will further co-operate. Personally, I have no objection in being with CBI," he said.

Meanwhile, Anita Bajaj, wife of B L Bajaj and co-accused in this case along with NALCO CMD's wife Chandani Srivastava, moved bail application before the court.

Anita and Chandani were arrested by CBI on February 25 and are now in Tihar Jail under judicial custody till March 15.

The court has put up the matter for arguments on bail application of Anita for March 7.

CBI had earlier said that Srivastava had instructed Bajaj to convert the illegal gratification received from Bhatia Group of Companies into gold and to deliver it to him.

Regarding the role of wives of both the accused, CBI had said Srivastava and Bajaj decided to deposit the gold through them in either of the lockers maintained at Shahjahan Road branch of Bank of Maharashtra or Mayur Vihar Phase-1 branch of Bank of India.

CBI had said the bribe amount was converted into gold bricks which were collected by Anita and were handed over to Chandani.

It had said gold worth Rs 2.13 cores and Rs 9.5 lakh in cash were recovered from locker number 127 of Bank of Maharashtra while Rs 15 lakh was found from Bank of India locker.

CBI had also found Rs five lakh in cash in Chandani Srivastava's bag she was carrying when she and Anita were intercepted by the agency sleuths.

Both were arrested when they came out of Bank of Maharashtra after depositing the gold in their locker.

CBI had termed the accused as "habitual corrupt", saying Chandani had impersonated herself as Anita Bajaj by using PAN card, Voter I-card in her (Anita's) name with her own photograph for obtaining and operating the locker as well as the bank account in Bank of Maharashtra, which was in the name of Anita.

(Agencies)