C Venkatramana, chairman and managing director, National Aluminium Corporation (Nalco), was on Wednesday arrested in a molestation case.
Venkatramana surrendered before the Sahar police on Wednesday morning and he was arrested.
Later, he was granted bail, ACP Vinod Lokhande said.
Nalco Regional Manager Virender Singh, arrested earlier in the same case, was also granted bail on February 11.
Both are facing the charge of molesting a woman employee of Nalco in a city hotel on February 8.
According to a complaint lodged by the victim, Venkatramana, during his visit to Mumbai on February 8, asked her to accompany him to his suite at a five-star hotel in suburban Sahar.
He asked his subordinate, Virender Singh, to wait outside and allegedly made sexual advances towards the victim inside the room.
Singh later apologised to the victim and expressed his inability to protest against the boss. He even dropped her home, police said, adding that the victim later lodged a complaint with the Sahar police station.
