Cbi Questions Sbi Caps Officials

The Central Bureau of Investigation (CBI) today questioned four SBI Caps officials in the Cyberspace case.

The officials who were called for questioning include the senior vice president and group head of M & A and Advisory, head of research.

The CBI also questioned members of the team who had worked on the private placement of Cyberspace shares with the institution.

According to sources, the officials were called in by CBI at their Kitab Mahal office to understand the way in which placement was done.

Around June 2000, Cyberspace had roped in SBI Caps and UTI Securities for a Rs 100 crore private placement issue.

To raise the money, the company proposed to place 15 lakh equity shares (amounting to 10-12 per cent of the equity) with qualified buyers.

However, according to sources, SBI Caps had only approached SBI Mutual Fund and LIC Mutual Fund for the deal but was unsuccessful in placing it.