Rajesh Aggarwal, one of the four co-founders of handset manufacturing company Micromax, has been arrested, along with another company executive Manish Tuli, on bribery charges, the Times of India reports. This appears to be a personal case, rather than one related to Micromax, wherein three officials of the Municipal Corporation of Delhi and one official of the Delhi Development Authority were being paid for granting the regularization of a Banquet Hall in Wazirpur.

Micromax is backed by Chinese fabless semiconductor firm Spreadtrum Communications ($10 million), Sequoia Capital, Sandstone Capital LLC and Madison India Capital ($43 million) and TA Associates ($45 million).

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The CBI Press Release (source):

CBI ARRESTS THREE OFFICIALS OF MUNICIPAL CORPORATION OF DELHI; ONE OFFICIAL OF DDA AND AN OWNER & PARTNER, BOTH OF A PRIVATE FIRM IN A BRIBERY CASE OF RS.30 LAKH
Press Release
New Delhi , 07.08.2013
The Central Bureau of Investigation has arrested three officials of Municipal Corporation of Delhi & one official of Delhi Development Authority while demanding & accepting a bribe of Rs.30 lakh from the Owner of Gurgaon-based private firm. The owner and partner, both of the said firm have also been arrested while offering the bribe to public servants.

It was alleged that these officials of MCD were taking the bribe amount on behalf of a Supdt. Engineer; Executive Engineer; Assistant Engineer and Junior Engineer, all of the MCD for granting regularization in an improper manner for a Banquet Hall at Wazirpur Industrial Area, New Delhi.

The CBI got information that the accused officials of Municipal Corporation of Delhi had called the owner of Gurgaon based private firm to a location in Pitampura, Delhi for a part payment of Rs.30 lakh out of Rs. 50 lakh for which the deal was allegedly struck between the parties for grant of regularization to the Banquet Hall. The CBI laid a trap and arrested the accused persons along with bribe money.

Searches were conducted today at 15 places. During the search at the house of a Junior Engineer of MCD, an amount of Rs. 40 lakh (Approx.) has been recovered. Similarly, the search at the residence of one of the arrested accused of MCD, cash amounting to Rs. 30 lakhs and jewellery has been recovered. The searches are continuing.

Further investigation is in progress.