Rotomac promoter Vikram Kothari flees after Rs 800-cr bank fraud?

Agencies
February 19, 2018

NEW DELHI, FEB 18: After billionaire diamond merchant Nirav Modi, another defaulter Vikram Kothari, the promoter of Rotomac Pen, has also allegedly gone abroad after swindling ₹800 crore from various public sector banks including Allahabad Bank, Bank of India and Union Bank of India, sources said.

The Kanpur-based company’s owner had taken a loan of more than ₹800 crore from over five state-owned banks.

Five banks on list

Allahabad Bank, Bank of India, Bank of Baroda, Indian Overseas Bank and Union Bank of India compromised their rules to sanction loans to Rotomac, the sources said.

According to local media reports, the promoter said speculation of his fleeing the country is baseless. “I am a resident of Kanpur and I will stay in the city. However, I do have to travel to foreign countries for business purposes,” Mr. Kothari said.

Mr. Kothari took a loan of ₹485 crore from the Mumbai-based Union Bank of India and a loan of ₹352 crore from the Kolkata-based Allahabad Bank.

A year later, Mr. Kothari has reportedly not paid back either the interest or the loan.

Last year, Bank of Baroda (BoB), a consortium partner, declared pen manufacturer Rotomac Global Pvt Ltd as “wilful defaulter.”

The company then moved the Allahabad High Court seeking removal of its name from the list of wilful defaulters.

A Division Bench comprising Chief Justice D.B. Bhosle and Justice Yashwant Verma had passed the order on a petition filed by the company, contending that it had been wrongly declared a “wilful defaulter” by BoB despite having “offered assets worth more than ₹300 crore to the bank since the date of default.”

Rotomac was declared a wilful defaulter vide an order dated February 27, 2017 passed by an authorised committee, as per the procedure laid down by the Reserve Bank of India.

Comments

Sayed Kaleem
 - 
Monday, 19 Feb 2018

Uff desh bhakton kyun desh ki band bajarahey ho

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 9,2020

Raipur, Jan 9: An outbreak of bird flu has been reported from a state-run poultry farm in Chhattisgarh's Korea district, prompting the authorities to cull over 15,000 birds and step up vigil on poultry birds within 10 km radius of the affected area, officials said on Thursday.

So far, 15,426 chickens and quails have been culled and 30,000 eggs destroyed after the highly contagious H5N1 virus was detected among birds at the poultry farm and hatchery in Baikunthpur town, located around 300 km from here, they said.

There has been no case of infection in humans so far due to the outbreak of avian influenza, they said.

"After some chickens and quails were found dead on December 7 last year in the farm, their samples were collected and sent to local laboratories for testing," Dr R S Baghel, deputy director, veterinary department, Korea, told news agency.

When the disease was not properly detected, samples were further sent to Jabalpur in Madhya Pradesh where veterinarians suggested symptoms of chronic respiratory disease, following which their line of treatment was followed.

"Despite the treatment, the abnormal deaths of birds continued," Baghel said.

Later, the samples were sent to Bhopal-based National Institute of High-Security Animal Diseases where tests were found positive for the H5N1 virus on December 23, he said.

"Immediately after getting reports of bird flu, we took permission from the Korea district administration, as per the standard procedure, and culled all 15,426 birds (chickens and quails) and destroyed 30,000 eggs in the farm and its adjoining areas," the official said.

Of the total culled birds, nearly 641 chickens were being reared by locals within one km radius of the farm. The locals were given compensation for the culling of their birds, he said.

"We have completed the culling process and sealed the farm. After sanitising the area in 10 km of its radius, we submitted a report to the state's directorate of veterinary services on Wednesday," Baghel said.

"No human has been affected due to the outbreak and the situation is under control. We are waiting for further directives from the higher authorities," he said.

The official said for the next three months, they will be conducting surveillance in 10 km radius of the affected area during which blood samples of birds will be regularly sent to Bhopal for testing.

"We will continue our observation for next three months," he added.

Meanwhile, state veterinary services director C R Prasanna said, "No human has so far been affected due to avian influenza and workers at the poultry farm at Baikunthpur have been given medicines as a precautionary measure."

Nearly 40 villages fall within the purview of 10 km radius of the affected area from where random sampling of poultry birds will be done for next three months to check whether they are infected with avian influenza, he said.

"Necessary steps are being taken to prevent bird flu from spreading to other areas," he added.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
March 15,2020

New Delhi, Mar 15: The number of novel coronavirus cases in the country rose to 107 on Sunday, with 12 fresh cases in Maharashtra, the Union Health Ministry said.

The number of cases include two persons who died in Delhi and Karnataka.

While a 76-year-old man from Kalaburagi who had recently returned from Saudi Arabia died on Thursday, a 68-year-old woman in Delhi who had tested positive for coronavirus passed away at the Ram Manohar Lohia (RML) Hospital on Friday night.

Delhi has reported seven positive cases and Uttar Pradesh 11 so far. Karnataka has six coronavirus patients while Maharashtra 31, Ladakh three and Jammu and Kashmir 2. Telangana reported three cases.

Besides, Rajasthan also reported two cases. Tamil Nadu, Andhra Pradesh and Punjab have reported one case each.

Kerala has recorded 22 cases, including three patients who were discharged last month after they recovered from the contagious infection with flu-like symptoms.

The total number of confirmed cases includes 17 foreigners -- 16 Italian tourists and a Canadian, the ministry officials said

Amid rising coronavirus cases in India, the government has asked people not to panic, saying no community transmission of the virus has been observed and there has only been a few cases of local transmission so far and that it is "not a health emergency" in India at present.

With the World Health Organisation (WHO) declaring COVID-19 a pandemic, a Health Ministry official said over 4,000 people who had come in contact with the 93 positive cases have been identified through contact tracing and were being tracked while 42,000 people across the country are under community surveillance.

He said all essential facilities like community surveillance, quarantine, isolation wards, adequate personal protective equipment (PPEs), trained manpower, rapid response teams are being strengthened further in all states and union territories.

The government on Wednesday suspended all visas, barring a few categories like diplomatic and employment, in an attempt to prevent the spread of coronavirus.

It has asked Indian nationals to avoid all non-essential travel abroad.

All incoming international passengers returning to India should self-monitor their health and follow the required do's and dont's as detailed by the government.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
February 11,2020

New Delhi, Feb 11: With Election Commission">Election Commission's trends indicating a landslide victory for the Aam Aadmi Party (AAP), party chief Arvind Kejriwal expressed his gratitude towards the people of the national capital and said that this is the victory of the people who consider him as their son.

Making his first public appearance after the day's results, Kejriwal made a brief address to supporters in which, AAP chief thanked supporters, outlined his personal connection with citizens and party workers as well as credited his family for their continued support.

"I thank people of Delhi for reposing their faith in AAP for the third time. This is not my personal victory, this is the victory of Delhiites. This the victory of the people who consider me as their son and voted for us," Kejriwal said at party office here.

He also referred to the trends of the assembly polls, as the beginning of a new kind of politics.

"This is the beginning of a new kind of politics. This is a new sign. Only the party will get vote who will built mohalla clinics and good schools... This is the victory of mother India and India. Today is Tuesday, Hanuman-ji's day. Hanumanji ji blessed Delhi today, I thank him. We pray that Hanuman Ji keeps showing the right path to us so that we continue to serve people for the next five years," he said.

According to Election Commission", AAP won 5 seats while the party is leading on 58 seats in 70-member Delhi Assembly. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.