Court extends CBI custody of former SBI AGM Kumarah
28 Nov 2013 11:52 PM GMT
The Central Bureau of Investigation’s Economic Offences Wing (EOW) had registered a case against Kumarah, SBI Deputy Managing Director Shyamlal Acharya and Worlds Window Group Chairman Piyoosh Goyal in a case of alleged graft in the disbursal of a Rs 400-crore loan.
According to the Central Bureau of Investigation, Goyal had allegedly applied for Rs 400 crore of corporate loan from SBI. Kumarah, who had joined Worlds Window Group after leaving SBI, allegedly used his contacts with Acharya and got Rs 75 crore loan sanctioned. In return, Goyal awarded Kumarah Rs 25 lakh and gave him 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 down a trap. Kumarah, who was coming out from the residence of Acharya after allegedly giving him watches, was nabbed by the CBI team. He was produced before the court and sent to Central Bureau of Investigation custody till Wednesday.
The agency while seeking further custody said it still needs to question Goyal and during searches conducted at the accused person’s residence incriminating documents were seized, for which further custodial interrogation is required. The CBI told the court that it needs to ascertain if Kumarah had used his contacts with Acharya before this also.
According to the Central Bureau of Investigation, Goyal had allegedly applied for Rs 400 crore of corporate loan from SBI. Kumarah, who had joined Worlds Window Group after leaving SBI, allegedly used his contacts with Acharya and got Rs 75 crore loan sanctioned. In return, Goyal awarded Kumarah Rs 25 lakh and gave him 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 down a trap. Kumarah, who was coming out from the residence of Acharya after allegedly giving him watches, was nabbed by the CBI team. He was produced before the court and sent to Central Bureau of Investigation custody till Wednesday.
The agency while seeking further custody said it still needs to question Goyal and during searches conducted at the accused person’s residence incriminating documents were seized, for which further custodial interrogation is required. The CBI told the court that it needs to ascertain if Kumarah had used his contacts with Acharya before this also.
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