 "SBI deputy MD accepted Rolex and Omega watches to approve Rs 75 cr loan")
State Bank of India has asked a deputy managing director of the bank, Shyamal Acharya, who is under investigation by the CBI in an alleged bribery case, to go on leave.
The police said they had put the deputy managing director under investigation in the case, in which he is alleged to have received Rolex and Omega watches after approving a loan worth Rs 75 crore to Worlds Window Group, a metals trading company.
What the case is about:
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Central Bureau of Investigation registered a case against Acharya, besides former SBI additional general manager K K Kumarah and Worlds Window Group (WWG) Chairman Piyoosh Goyal, for alleged collusion to profit from a large bank loan.CBI has alleged that Acharya, who was originally not in charge of sanctioning the loan, got the case moved under his charge.
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.
Goyal basically wanted a loan of over Rs 75 crore from SBI for his firm. Kumarah assured him of his contacts in the bank through whom he could get the loan passed. An arrangement was reached between Kumarah and Goyal under which the former was to get Rs 25 lakh for his services and Acharya Rs 15 lakh. Kumarah is said to have bought a Rolex and an Omega watch (worth Rs 7.75 lakh) to be given to Acharya for his alleged favours.
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.
Impact Shorts
More ShortsThe 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 MDs to probe the corruption charge against Acharya, who has been asked to go on leave.
“Incriminating documents recovered during searches are being scrutinised for further investigation,” the Central Bureau of Investigation (CBI) said in a statement on Monday.
State-run SBI, the country’s biggest bank, said that a committee of two managing directors would investigate the matter internally.
Worlds Window Impex denies charges
Worlds Window Impex India today said it has not paid bribe to anybody to secure any facility.
“We are concerned with the news appearing in the media and are shocked that our name is appearing in the same. We have not paid any bribe to anybody to secure any facility,“Worlds Window Impex India said in a statement.
“We are currently seeking legal advice and at an appropriate time our lawyers will clarify our position,” it added.
SBI said it is cooperating with the CBI. The bank also said: “We stand committed to probity in our dealings and assure that SBI will continue to hold highest standards of honesty and transparency in its operations.”
Indian officials have said the CBI has been scrutinising the 30 biggest defaults at Indian banks for any evidence that borrowers colluded with bankers for personal gain. CBI spokeswoman Kanchan Prasad said the SBI case announced on Monday was not part of that probe.
CBI has sezied gold worth Rs 67 lakh, FDs from Acharya’s home
CBI conducted searches at the Mumbai residence of SBI Deputy MD Shyamal Acharya and claimed to have seized gold and jewellery worth Rs 67 lakh
“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.
Acharya will be asked to explain the source of income for these purchases. In case he is unable to account for these items, CBI will register a fresh case of corruption against him for amassing wealth more than his known sources of income.
According to a report in Mumbai Mirror, CBI has also sealed two offices of a jeweler Amrut Jain -one at Zaveri Bazar and another in central Mumbai -through whom Acharya is suspected to have invested in 10 kilos of gold. The agency had summoned Jain for interrogation, but he has evaded them so far.
With inputs from Agencies
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