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.
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.
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.
February 24, 2018 9:02 pm
Vikram and his son were arrested on Thursday for alleged default on loan repayment.
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.
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.
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.
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'.
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.
February 21, 2018 8:09 am
Belonging to a business family, Kothari had set up his stationery business under the name of Rotomac in the 1980s.

