 |
 |
Bank overdraft helped Vadra buy land
Publish Date:Oct 11, 2012
Advertisement
A public sector Corporation Bank had extended an overdraft of Rs 7.94 crore in 2007-2008 to Robert Vadra’s Sky Light Hospitality when his company had total resources of only one lakh rupees has left officials at the Mangalore based lender scrambling to understand the circumstances in which the transaction took place and whether it conformed to normal lending guidelines. It is not clear from Sky Light’s balance sheets what collateral, if any, was put up for the overdraft. A reliable source told that Corporation Bank extends overdrafts to customers based on their business projects, net worth and past record. Commenting on the size of the overdraft, one official said that in this particular case, on the face of it, Vadra can’t be given an overdraft of that amount. If he has, they the Bank officials have to see why he has been given it. In August 2011, the Central Vigilance Commission CVC had issued a memo to the Department of Financial Services of Corporation Bank seeking an explanation from its former CMD, Ramnath Pradeep, on noticed lapses in giving unsecured loans. The CVC, in the memo, had directed the DFS to take immediate action to stop the CMD from continuing the abuse of authority.
http://www.teluguone.com/news/content/violation-of-rules-20-18082.html
|
|
|
Rajnath Singh smooth punch to congress for coining Hindu Terrorism
Kejriwal urges Jung to dissolve Delhi assembly, says delay encouraging poaching of legislators
.jpeg)
Former minister D.K. Samarasimha Reddy met Telugu Desam chief N. Chandrababu Naidu on Monday at Gadwal, sparking off rumours that he might be joining the TD
.jpg)
New HRD minister M Pallam Raju received the biggest promotion in Sunday's ministerial reshuffle and the decision may have gone down to the wire before the mantle fell on the Kakinada MP
.jpg)
Trusts and charities in Andhra Pradesh are the third biggest recipient of foreign funding in the country. In just one year, these organisations received Rs 1,324.87 crore from abroad in 2009-10,
.jpg)
Hurricane Sandy Photos: Millions of people are without power in the U.S. northeast as the powerful post tropical storm Sandy pummels the region with hurricane force winds, rain, and a dangerous storm surge that has caused flooding in many coastal areas including parts of New York City.
.jpg)
Hurricane Sandy News: Millions of people are without power in the U.S. northeast as the powerful post tropical storm Sandy pummels the region with hurricane force
.jpg)
After posing nude for the cover of the Playboy magazine, actor Sherlyn Chopra is all set to set the screen on fire in Rupesh Paul directorial next “Kamasutra 3D”.
.jpg)
Actor Nani Marriage Pics: Nani and his fiancee Anjana's marriage was held at the Rishikonda Resorts in Vishakapatnam on 27th October, 2012.
.jpeg)
A Tsunami warning had been issued for Hawaii on Sunday. Hawaii is fairly exposed to waves which are usually generated by volcanic activity along the west coast of the Americas.
