Corporation Bank extended an overdraft facility of rs 7.74 Crore in 2007-2008 to Robert Vadra’s Sky Light Hospitality when his company had total resources of only one lakh rupees.
Asked what amount Corporation Bank would normally extend as overdraft to a borrower with a company whose issued capital was Rs. 1 lakh, Ajai Kumar, Chairman and Managing Director, Corporation Bank, told The Hindu: “It is not a question I can answer until I get the full facts. You should understand. You have to take the full picture.” He cited client confidentiality for not sharing the information, even if he were to get it, on Mr. Vadra’s business with the bank. However, he added that he could get the full facts from the branch in Delhi “may be by tomorrow [Thursday].”
Mr Chidambaram, this is not insinuation, but a charge.
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