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ROTOMAC FRAUD
CBI books Rotomac Global in fresh case of Rs 93cr bank fraudThe CBI has alleged that directors Vikram Kothari (now deceased) and Rahul Kothari, along with others, acted with "dishonest intention" to ...- SFIO arrests Rotomac promoter, two othersday Desai, who had not appeared before the agency citing the Covid-19 outbreak, was arrested late Wednesday night from Mumbai, people in th...
- 3 tax notices under foreign black money law slapped on Nirav Modi: Revenue departmentNirav Modi, his uncle Mehul Choksi and others are accused in a Rs 14,000 crore fraud at state-owned Punjab National Bank (PNB).
- ED attaches Rs 177-cr assets in Rotomac bank fraud caseThe agency alleged that these assets were the "proceeds of crime" of the illegal act of money laundering.
- Govt mulls action against bank officials involved in fraudsSources said some action should be taken against top officials of banks whose names have appeared in the investigative reports of probe age...
- NCLT orders liquidation for two Rotomac companiesThe committee of creditors has rejected the demand for an extension of 90 days to complete the insolvency resolution process.
- Lenders decline additional extension to Rotomac firmsRotomac Exports and Rotomac Global will now be auctioned by the bankruptcy court.
- Rotomac companies set to be shut nowRotomac Exports and Rotomac Global, firms promoted by banking-fraud accused Vikram Kothari, will now be auctioned by the bankruptcy court.
- Will Rotomac companies face liquidation?Bank of India, Bank of Baroda, Oriental Bank of Commerce, Allahabad Bank, Union Bank of India, and Bank of Maharashtra have jointly lent cl...
- Rotomac case: I-T dept files 6 charge sheets against Vikram KothariThe Kanpur-based group is being probed by the CBI and the ED in connection with the alleged swindling of Rs 3,695 crore of loan funds.
- Friendly play between banks and Rotomac: Debt tribunalThe tribunal held that the banks had concealed letters deliberately: first, to help the defendants and second, to hide its own conduct rega...
- Vikram Kothari, owner of Rotomac, arrested by CBI in loan default caseThe CBI officials said that Vikram Kothari and his son, who were called for questioning, were arrested after they failed to cooperate with ...
- Bank of Baroda denies it delayed action in Rotomac caseWhile BoB declared the company an NPA in February 2016, the account was not an NPA with other lenders as the borrower was repaying only som...
- Rotomac loan turned NPA in FY16; made full provision: Bank of IndiaThe accounts were subsequently classified as NPA in the year 2015-16. The bank had made 100 per cent provisions on the amount outstanding, ...
- BoB sat on Rotomac case for 2 years, ran to CBI after Nirav Modi scam brokeThe public sector bank remained silent for two years despite facing a Rs 6,172 crore forex scam in 2015 in which money was sent from India ...
- Bank of Baroda says it has exposure of Rs 456.6 cr to RotomacBank of Baroda also clarified that the account was declared NPA in October 2015 and 100% provision has been made towards the account.
- With Rotomac in the eye of a storm, here's a look at owner Vikram Kothari's tempestuous journeyBeing hounded by sleuths for an alleged Rs 3,700-cr fraud, it appears unlikely that the words said about Kothari's "Fighter" brand will hol...
- Rotomac scam: Tax department attaches 11 bank accountsRotomac promoter Vikram Kothari is being investigated by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) for an ...
- CBI, ED initiate actions against Rotomac DirectorsVikram Kothari, his wife Sadhana Kothari and son Rahul Kothari — all directors — have been booked by the CBI on charges of cheating a conso...
- Rotomac loan default swells to Rs 3,695 crore, CBI files case against Vikram KothariEarlier, the loan default was estimated at over Rs 800 crore but scrutiny of documents by CBI revealed that the amount is much larger.
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