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Graft case: top SBI official in CBI net

State Bank of India (SBI) has constituted an internal committee to investigate bribery charges against Shyamal Acharya, one of its deputy managing directors.

Published: 26th November 2013 04:04 AM  |   Last Updated: 27th November 2013 04:40 PM   |  A+A-

State Bank of India (SBI) has constituted an internal committee to investigate bribery charges against Shyamal Acharya, one of its deputy managing directors.

The internal investigation follows raids by the Central Bureau of Investigation at the offices and residence of Acharya as well as those of former SBI executive K K Kumra and Piyoosh Goyal, founder of the Delhi-based World Window group in Mumbai, Delhi and Kolkata.

In a statement, SBI chairperson Arundhati Bhattacharya said, “We have been advised by CBI that Shyamal Acharya, deputy managing director and group executive (mid-corporate) of our bank is being investigated. Acharya has been asked to proceed on leave. SBI is co-operating with the CBI.”

“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,” she added.

The internal committee that is being set up by SBI comprises two senior managing directors. While SBI declined to name these two committee members, sources said these were Hemant Contractor and A Krishnakumar, two of the senior most managing directors of the bank. This, however, could not be confirmed.

Sources said that CBI investigations so far had ascertained that Goyal wanted a large loan from SBI of over Rs100 crore for which he approached Kumra. The latter thereafter demanded a payment from Goyal for Acharya in order to get these loans passed. Media reports said that two high end Rolex watches apparently changed hands. These watches were meant for Acharya. And as Kumra played postman in dropping these watches off at Acharya’s residence, he was nabbed by the CBI sleuths.



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