No role in Vadra controversy, says Corporation Bank CMD

Corporation Bank today said it had not extended overdraft facility of Rs7.94 crore to a company owned by Robert Vadra and has no role in the raging controversy over his land deal with realty major DLF.

"The bank has no role in the entire controversy," Corporation Bank Chairman and Managing Director Ajai Kumar told reporters here.

He said the bank had not extended any overdraft facility to Sky Light Hospitality, the company owned by Vadra. "We have not extended any overdraft facility. Some accounting practises have been followed by the company and I cannot comment on that," he said.

Media reports had stated that Sky Light Hospitality had shown in its balance sheet that Corporation bank had given to it an overdraft of Rs7.94 crore.

The bank has made it clear earlier that no funds by way of loan or overdraft had been given to the company, which is now embroiled in a controversy over a real estate deal with DLF group in Haryana.