Coimbatore/Chennai: The three trucks loaded with Rs 570 crore reportedly belonging to the State Bank of India remained stuck at the Tirupur collectorate till late Sunday night, even as the SBI officials are trying hard to convince the Election Commission that the cash was being genuinely transferred from its Coimbatore main branch to Visakhapatnam to meet “temporary cash shortage” in Andhra Pradesh.
The SBI has termed the EC action as “erroneous”. Besides, said the SBI, such large money transfers between one chest to another were common for meeting money requirements in different regions, and they were approved by the RBI.
The three trucks were seized by the EC officials at Perumanallur-Kunnathur bypass after a hot chase with police help late Friday night, setting off wild excitement among the EC officials that they had scored the biggest of all poll-related seizures in Tamil Nadu.
