Mumbai: Chairman of SBI Dinesh Khara said that the Bank had full trust in the judiciary and that the former Chairman of the SBI Pratip Chaudhuri would be released unconditionally.
He also said that the banking community, through the Association of Bank India, has taken problems with the government.
“The arrest of Mr.
Chaudhuri is very unfortunate.
There are several reactions in the public spaces of the banking community and the previous chair.
It seems that opportunities are not given to him to be heard before arrest.
We have maximum faith in the country’s justice system and believe that it will be released without the earliest,” Khara said to reporters here on Wednesday.
The banking source said that the complainant in the same case had filed a brilliant fake against the designated professional resolution (IDR) to take over in the default company.
This has resulted in the assessment of landmarks that said cases against Rp.
Can be submitted with the bankruptcy and bankruptcy council (IBBI).
Khara denied that there was a deviation in sales of loans by SBI.
“As far as SBI concerning, we adhere to the best practices in corporate governance and there is no deviation in instant cases and rules and processes specified followed by the Bank in handling this account.” Khara indicated that the decision about NPA sales could not be taken by Chaudhuri.
“This big problem always deals with local levels and bank top management, including the chairman, not involved in decision making.
We have gotten the structure in place and we believe that people throughout the hierarchy can make decisions in such things, “Khara said.
The banking source said that the complainant in this case was politically connected.
They said that it seemed to be a premeditation case because most of the court was a higher vacation on vacation for Diwali.
Meanwhile, SBI’s source said that the assessment mentioned in the order was irrelevant because the properties were not sold by the bank.
They said that the Bank had provided sanctions on RS 24 Crore Futures and Cash Credit Limit RS 1 Crore approved in 2008 and loans must be restructured in one year itself.
Despite restructuring, loans turned into non-performing assets in 2010.
This encouraged banks to send backward recordings for RS 34 Crore in 2012 and suits were submitted in debt recovery courts in 2013 for Rs 40 Crore.
Because the bank did not succeed in attaching properties under the Securitization Law, the loan was sold to the ALCHEMIST (ARC) asset reconstruction company for RS 25 Crore in 2014.
Arc also could not recover loans and eventually begged IBC.
The promoters had filed firm against Rp, arrested.
In this case, the command of the landmark was passed to require complaints against Rp.
Only submitted with IBBI.
The banking source said that NClat and the Supreme Court had passed the stricture of the promoters.