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Thursday, October 11, 2012

Corporation Bank denies extending overdraft to Vadra’s company

Corporation Bank has denied giving overdraft to Robert Vadra’s company, as reported in a section of the media.

When contacted, the bank’s Chairman and Managing Director Ajai Kumar said: “As per the information given to me by the branch, there is no overdraft at all.”

There was a report in a section of the media that the Friends Colony branch of Corporation Bank in Delhi had extended in 2008-09 an overdraft of Rs 7.94 crore to Sky Light Hospitality, one of the companies of Robert Vadra. The report also stated that it was repaid later on.

“I have confirmation with me that there is no overdraft given from the branch, which a financial daily has mentioned,” Ajai Kumar said.

B. Sambamurthy was the Chairman and Managing Director of Corporation Bank during that period. When contacted, Sambamurthy endorsed the views of the present CMD, Ajai Kumar. He said he has nothing more to add on this.


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