Spain's BBVA denies credit exposure, relationship, with Sahara

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Reuters MADRID
Last Updated : Mar 25 2015 | 1:42 PM IST

MADRID (Reuters) - Spanish bank BBVA has no credit exposure or relationship with Indian conglomerate Sahara, a bank spokesman said on Wednesday.

Sahara head Subrata Roy has been held in jail for over a year after the company failed to comply with a court order to refund billions of dollars from an illegal bond programme.

During hearings, a Sahara lawyer told the court that the company has received a line of credit worth 900 million euros ($983.88 million) from BBVA.

($1 = 0.9147 euros)

(Reporting by Jesus Aguado; Writing by Paul Day; Editing by Tomas Cobos)

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First Published: Mar 25 2015 | 1:24 PM IST