Tayal gets bail, says charges are motivated

Bank of Rajasthan chairman Praveen Kumar Tayal has said the charges leveled against him by a court in Kota are malicious and aimed at maligning the bank.

Tayal, who was addressing a press conference here today, alleged that certain "influential" people were trying to malign the bank and the Tayal family.

Tayal was arrested here yesterday for his alleged involvement in a case relating to non-delivery of shares of a group company of the Tayals.

A court in Kota had issued a non-bailable warrant against him on April 22. Tayal was supposed to be produced in the court, but he was admitted to Sawai Man Singh Hospital after he complained of chest pains. Later in the day, a lower court here granted him conditional bail.

Terming the incident as unfortunate, Tayal said he had not indulged in any fraudulent activity.

"From the day I joined Bank of Rajasthan, I have concentrated only on the bank. I do not hold any directorship or official status in any other company," he said.

In an emotional speech, Tayal claimed that since 1999, when he became chairman of the bank, he had not taken any money out of it, not even sitting fees.

Tayal said he had not received any summons, and was not given a chance to plead before the court.

He said the bank had issued a number of notices to recover non-performing assets worth Rs 400 crore (Rs 4 billion), and it was because of this that the Tayal family was being conspired against and was receiving threats.