CBI court extends custody of former SBI executive till Nov 30

Sate Bank expected to submit internal probe by weekend

A special CBI court here today extended the custody of K K Kumarah, ex SBI executive, till November 30 in an alleged graft case. Meanwhile, Rajiv Takru, union financial services secretary, today said the SBI’s panel comprising two managing directors – which is conducting internal probe - is expected to submit report in 2-3 days.

The Economic Offences Wing of Central Bureau of Investigations (CBI) had registered a case against Kumarah, retired assistant general manager, Shyamal Acharya, Deputy Managing Director (mid-corporate group) of SBI and Piyoosh Goyal, Chairman of Worlds Window Group, in a case of alleged graft in disbursal of loan of Rs 400 crore.     

According to CBI, 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.     

Kumarah, who was arrested on Saturday last week, was produced before the court and sent in CBI custody till today. The agency sought further custody for further interrogation.

Takru, who is government representative on SBI board, while speaking to reporters in Mumbai said If anybody is guilty, certainly the law will take its course. The cases of aberration are exceptions and not rules. Don't think the incident requires any changes in banking procedures, he said.