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Rotomac bank fraud: CBI files chargesheet against company owner Vikram Kothari, bank officials

May 22, 2018 3:06 am

The first chargesheet has been filed in connection with an alleged loan default of Rs 456.63 crore towards Bank of Baroda, which is part of the total default of Rs 3,690 crore in loans availed from a consortium of seven banks, sources said.

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CBI court refuses regular bail to Vikram Kothari, son

March 15, 2018 4:38 pm

According to the prosecution, a consortium of seven banks led by Bank of India had extended loans worth Rs 2,919 crore to Rotomac Global Pvt Limited from 2008 onwards.

Six chargesheets filed against Rotomac owner Vikram Kothari

February 27, 2018 5:47 am

The taxman had earlier attached four immovable assets of the Rotomac group and its promoters in this case. It had attached 14 accounts of the group in various bank branches in Uttar Pradesh.

Rotomac pens owner Vikram Kothari, son sent to 11-day CBI remand

February 24, 2018 9:02 pm

Vikram and his son were arrested on Thursday for alleged default on loan repayment.

Rotomac pens owner Vikram Kothari, son sent to one-day transit remand

February 23, 2018 6:00 pm

Vikram and his son were produced before Additional Chief Metropolitan Magistrate Samar Vishal, a day after they were arrested for alleged default on loan repayment.

CBI arrests Rotomac owner Vikram Kothari for Rs 3,695 crore loan default

CBI arrests Rotomac owner Vikram Kothari and son over Rs 3,695 crore loan default

February 23, 2018 8:09 am

Sources said Kothari constantly maintained that he had not committed fraud and would have returned the Rotomac loan in due course. He also said this was the reason he had not attempted to leave the country or even Kanpur.

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Rotomac pens owner Vikram Kothari, son Rahul arrested by CBI in Rs 3,695-crore loan default case

February 22, 2018 8:47 pm

Rotomac pens loan default: The CBI alleged that Kothari, his wife Sadhana and son Rahul, all directors of Rotomac Global Pvt Ltd, had allegedly diverted the loan amount towards purposes other than what they were meant for.

Rotomac loan turned NPA in FY16; made full provision: Bank of India

February 21, 2018 7:15 pm

The bank did not disclose the amount of its exposure to the Rotomac group, in response to a clarification sought by exchanges on news article 'Rotomac owner flees country after taking Rs 800 crore loan'.

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Rotomac bank fraud: ‘Bank of Baroda knew Kothari’s record, panicked after Nirav escape’

February 21, 2018 8:11 am

Kothari is accused of defaulting on loans amounting to more than Rs 3,600 crore from a consortium of seven banks, led by Bank of India. The loans were disbursed since 2008, and Kothari has been defaulting for several years now.