SBI graft case: Court extends CBI custody of Kumarah

CBI told the court that it needs to ascertain if Kumarah had used his contacts with SBI Dy MD Acharya before this also

A special CBI court here today extended the CBI custody of former Assistant General Manager of State Bank of India (SBI), K K Kumarah till November 30 in an alleged graft case.

The Economic Offences Wing of CBI had registered a case against Kumarah, Deputy Managing Director of SBI Shyamlal Acharya 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.

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 eight 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 in CBI custody till today.

The agency today 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.

CBI told the court that it needs to ascertain if Kumarah had used his contacts with Acharya before this also.