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Rotomac scam: CBI raids three places, FIR filed

Rotomac scam: CBI raids three places, FIR filed
, Monday, 19 February 2018 (14:58 IST)
New Delhi: The Central Bureau of Investigation (CBI) has conducted raids at three properties belonging to the Rotomac Pen company's owner in the early hours on Monday morning, in his connection with the Rs 800-crore scam with several banks.According to the agency sources,the raids were underway at three locations in Kanpur, Uttar Pradesh since 0400 hours on Monday.Kothari, including his wife and son were being questioned by the CBI following the FIR registered against him on Sunday night after the complaint by a bank.

Vikram Kothari the, Rotomac promoter is accused of duping several banks including Allahabad Bank, Bank of India , Union Bank of India, and Bank of Baroda to the tune of Rs 800-crore.In 2017, one of the said Banks , the Bank of Baroda had declared the Rotomac Global Pvt Ltd willful defaulter , to which the company had approached the Allahabad High court to get its name off the defaulter's list.

However, Chief Justice D B Bhosale and Justice Yashwant Verma's bench had heard the company's petition and ordered to remove its name from the said list.Later as per procedure by the RBI through an authorised committee's order on February 27 2017 declared the company 'willful defaulter'.(UNI)

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