Monday, November 25, 2013

Graft case: SBI asks Dy MD to go on leave; sets up probe panel

SBI today said it has constituted an internal panel comprising two MDs to probe the corruption charge against its deputy MD Shyamal Acharya, who has been asked to go on leave a day after his residence was raided by the CBI.

“We have been informed by the Central Bureau of Investigation that Shyamal Acharya, Deputy Managing Director and Group Executive (mid corporate groups) of our bank, is being investigated. Acharya has been asked to proceed on leave,” State Bank of India said in a statement.

“We have also constituted an internal committee comprising two senior managing directors to investigate internally,” the statement said.

Though the statement did not name the MDs in the probe panel, it has been learnt that Hemant G. Contractor, who is the MD and group executive for international banking, and A. Krishna Kumar, MD and group executive for national banking, are the members.
The spokesman did not say when the report will be submitted by the panel, which was constituted last night.

SBI said it stands committed to probity in its dealings and assured that it will continue to hold highest standards of honesty and transparency in its operations. The statement also said the bank is cooperating with the investigating agency in the probe.

Yesterday, the CBI registered a case against Acharya, ex-SBI additional general manager, K.K. Kumarah, and Chairman of Worlds Window Group, Piyoosh Goyal, for alleged graft in disbursing loan of above Rs 100 crore.

According to the CBI, a team of its economic offences wing in Mumbai has registered a case against them for alleged graft.

The agency sources said Goyal wanted a loan of over Rs 100 crore from SBI for his firm when Kumarah got involved.

They said Kumarah assured him of his contacts in the bank through which he could get that loan passed.

Sources said an arrangement was reached between Kumarah and Goyal under which he had to get Rs 25 lakh for his services and Rs 15 lakh for Acharya.

Kumarah allegedly purchased two high-end Rolex watches worth about Rs 8 lakh to be given to Acharya for his alleged favours, the sources said.

Meanwhile, the agency came to know about this deal and laid a trap.

Kumarah, who was coming out from the residence of Acharya after allegedly giving him watches, was nabbed by the CBI team.

The remaining cash of around Rs 7 lakh was also recovered from him, the sources claimed.

The CBI teams carried out searches at the residences of Acharya, Kumarah and Goyal in Mumbai and Kolkata.

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