New Delhi, October 13, 2012 – News n Analysis by Dr. Raj Baldev, on the issue of Rs. 7.9 Crore Transaction between Mr. Robert Vadra and the Corporation Bank, and now with the new twist, how far the Govt. can forego such an official transaction?
The Corporation Bank has assured the enquiry officer that they have not advanced an overdraft to Mr. Vadra’s companies and this denial has apparently changed the game.
It looks that some of the allegations leveled by Mr. Kejriwal might be correct. If so, the position of Congress may get thinner and stripper despite their denial on every transaction.
This is such an exposure that even Ms. Sonia Gandhi looks to be worried within herself. So much so it is reported that Mrs. Priyanka Vadra was also the director of one of his companies in 2008.
If this is correct, the things may not go right in favor of Mr. Vadra, Mrs. Priyanka, Sonia Gandhi and finally Rahul Gandhi.
Mr. Ajai Kumar, CMD of Corporation has confirmed to media that no such transaction has taken place further confirming he has checked all relevant records.
In the annual report of 2007-2008, a firm of Mr. Vadra namely Sky Light Hospitality claimed an overdraft of Rs. 7.94 crore from the bank.
Moreover, it was the first year of the operation of the company having a paid up capital of Rs. 1 lakh and at the end of the year the company claimed that it had the fixed assets of Rs. 7.95 crore.
The directors of the company were Mr. Robert Vadra, his mother Maureen, they are reported to have then said to their shareholders “the company has purchased land measuring 5 bighas and 12 biswas in Sohna Tehsil of Haryana for Rs. 7.94 crore.”
It also revealed that the entire amount was taken as a bank draft out of which the land was purchased.
In its annual report for 2007-08 financial year, Vadra’s firm Sky Light Hospitality claimed an overdraft of Rs 7.94 crore from the bank.
However, the denial by Corporation Bank has created a doubt how far the claim of Mr. Vadra is correct, as shown in the annual statement of his company.