Top SBI official in CBI net for alleged graft; probe ordered-Business Line -26.11.2013
MUMBAI, NOV 25:
State Bank of India has constituted an internal committee comprising two senior Managing Directors — Hemant Contractor and A. Krishna Kumar — to investigate allegations of wrongdoing against its Deputy Managing Director Shyamal Acharya.
Acharya, who heads the mid-corporate group and has handled key loan accounts such as Kingfisher Airlines, has been asked to proceed on leave, a bank spokesperson said.
SBI constituted the committee following the Central Bureau of Investigation registering a case against the DMD for alleged graft in sanctioning a Rs 75-crore loan to a New Delhi-based private company. According to agency reports the private company in question is the Worlds Window Group, whose chairman is Piyoosh Goyal.
Besides Acharya, the agency has also registered a case against the chairman of the company; a former SBI Assistant General Manager (identified as K. K. Kumarah by agency reports), other officials of SBI and other unknown private persons.
WORLDS WINDOW
The Worlds Window group is a diversified company with business interests in ferrous and non-ferrous metal and scrap trading; manufacturing of aluminium composite panels; and logistics and mining.
The CBI, in a statement, said it has arrested the former SBI official in the alleged bribery case. “The Advisor of the said private company, who was earlier working as an AGM with SBI, approached Deputy Managing Director (DMD), SBI, Mumbai, for getting the said loan sanctioned. “The DMD allegedly influenced his office to process the loan application of the said private company and got the loan of Rs 75 crore sanctioned,” CBI said in its statement.
In the statement, the agency observed that after sanction of the loan, the chairman of the private company allegedly paid Rs 25 lakh to his Advisor (former SBI official) as reward and also paid Rs 15 lakh to him for giving it to the SBI DMD as reward.
After receipt of Rs 15 lakh, the Advisor allegedly purchased one Rolex and one Omega wrist watch worth about Rs 7.75 lakh and visited the office of the SBI DMD at Mumbai and delivered the watches to him.
After delivery of the said wrist watches, the Advisor was apprehended by the CBI and the said two wrist watches were also recovered from the office cabin of the DMD, the CBI statement said.
Searches were conducted at the residential and office premises of the accused persons, the agency said.
Acharya could not be reached for his comments.
In a statement, Worlds Window Group said “We are concerned with the news appearing in the media and we are shocked that our name is appearing in the same. We have not paid any bribe to anybody to secure any facility.
“We are currently seeking legal advice and at an appropriate time our lawyers will clarify our position.”
CBI raids SBI Dy MD Shyamal Acharya's home, seizes gold, FDs in Rs 400 cr loan case-FE
CBI today conducted searches at the Mumbai residence of State Bank of India (SBI) Deputy MD Shyamal Acharya and claimed to have seized gold and jewellery worth Rs 67 lakh after he and others were booked by the agency in a graft case related to disbursal of a loan of over Rs 400 crore.
"Gold and jewellery worth Rs 67 lakh approximately, locker key, documents pertaining to investments in fixed deposits others and other incriminating documents have been recovered from the residence of the Deputy Managing Director.
"An estimated cash of Rs 15 lakh, jewellery and other incriminating documents were also recovered from the residence of the chairman of the private company, Piyoosh Goyal. Incriminating documents recovered during searches are being scrutinised for further investigation," a CBI spokesperson said in Delhi.
CBI's Economic Offences Wing in Mumbai had registered a case against Acharya who is also the head of Mid-Corporate wing of the Bank, former SBI official K K Kumarah and Chairman of Worlds Window Group Piyoosh Goyal for alleged graft.
Kumarah was arrested in the case yesterday.
The agency said that Goyal had allegedly applied for over Rs 400 crore of corporate loan from SBI but only Rs 75 crore was approved.
Kumarah, who had joined Worlds Window Group after leaving SBI as an advisor, allegedly tried to get loans cleared for the company using his contacts in the bank, the agency said.
CBI said an arrangement was reached between Kumarah and Goyal under which he was to get Rs 25 lakh for his services and Rs 15 lakh for Acharya.
Kumarah allegedly purchased two high-end watches, Rolex and Omega brands, worth about Rs 7.75 lakh to be given to Acharya for his alleged favours, they said.
Meanwhile, the agency came to know about this deal and a trap was laid.
Kumarah, who was coming out from the residence of Acharya after allegedly giving him watches, was nabbed by a waiting CBI team.
The remaining cash of around Rs seven lakh was also recovered from him, the agency said.
Kumarah has been sent to CBI custody till November 27.
Meanwhile, the SBI said it has constituted an internal panel comprising two
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