Corporation Bank denies giving overdraft to Vadra firm

Last Updated: Thursday, October 18, 2012 - 17:47

Ahmedabad: Corporation Bank on Thursday denied having given any overdraft facility to Sky Light Hospitality, a company owned by Robert Vadra, that was recently in controversy over dealing with realty major DLF.

"We have not given any loan or overdraft to that company and those documents which had come in the media were not of our bank but that of the company," Corporation Bank Chairman and Managing Director Ajai Kumar told a press conference here.

He was asked whether his bank had given Rs 7.94 crore overdraft to Vadra.

"Our bank is nowhere related to the alleged overdraft facility. Everything in that regard is reported by the media. If you carefully look at the documents, you will know that it is just a matter of accounting practice of that company," Kumar added.

He was here along with bank Executive Director Amar Lal Daultani on the occasion of inauguration of a new branch of Corporation Bank in the city.

Activist-turned-politician Arvind Kejriwal had cast doubts on the dealing between Vadra, son-in-law of Congress President Sonia Gandhi, and DLF.

Sky Light Hospitality, according to some media reports, in its balance sheet had shown that Corporation Bank had given an overdraft of Rs 7.94 crore.

The auditor`s report for Sky Light Hospitality for 2007-2008, submitted to the Registrar of Companies, had claimed that it got an overdraft from Corporation Bank`s New Friend`s Colony branch in New Delhi. This document is signed by Vadra and his mother Maureen Vadra.


First Published: Thursday, October 18, 2012 - 17:46

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