NEW DELHI: There is still no clarity if Corporation Bank ever extended an over-draft facility to a company controlled by Robert Vadra. However, it is confirmed that the Mangalore-based nationalised bank was among the favourite financial institutions of the controversial son-in-law of the Congress’s first family.
According to documents filed by the many companies controlled by Vadra, at least three of these firms had active accounts with Corporation Bank. In case of two other companies they do not specify the bank where the accounts are, but it is possible that they too were banking mostly with the same branch of Corporation Bank.
Vadra is a director or an additional director in 12 companies, according to the ministry of corporate affairs. Of them, six firms were incorporated only this year, so they haven’t yet filed their first balance sheets along with reports from the directors, auditors etc, with the registrar of company affairs.
Of the other six firms, which have been in existence for longer period, their preferred banks were Corporation Bank and Standard Chartered.
Blue Breeze, Sky Light Realty and Sky Light Hospitality all have active accounts with Corporation Bank in the national Capital. In some of these filings, it is specified that the accounts are in the Friends Colony branch of the bank.
In its filing for 2007-08, Sky Light Hospitality has claimed an over-draft of Rs 7.94 crore. The bank has until now denied extending any over-draft to the firm, kicking up yet another row surrounding Vadra, whose meteoric financial gains has turned into a full-fledged political controversy after Arvind Kejriwal-led India Against Corruption (IAC) last week demanded a thorough investigation into it.
Blue Breeze Trading also has an account with the Friends Colony branch of Corporation Bank. In fact, it was the only account that the company had when it started. Later, the company opened an account with Standard Chartered Bank.
Sky Light Realty also had its accounts in both Corporation Bank and Standard Chartered. In fact, Vadra firms seem to have had numerous fixed deposits running into several crores, especially with Standard Chartered.