26 Nov '13, 3am

SBI deputy MD got 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: Reuters 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 fe...

Full article: http://www.firstpost.com/business/sbi-deputy-md-got-rolex...

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firstpost.com 26 Nov '13, 5am

State Bank of India has asked a deputy managing director of the bank, Shyamal Acharya, who is under investigation by the C...

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