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.

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Sayed Kaleem
 - 
Monday, 19 Feb 2018

Uff desh bhakton kyun desh ki band bajarahey ho

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News Network
March 31,2020

Srinagar, Mar 31: In order to prevent the spread of coronavirus, the Jammu and Kashmir administration on Tuesday declared 20 villages of Kashmir division as 'red zone'.
"20 villages including Parray Mohala Hajin, Chandergeer Hajin, Batagund Hajin in Bandipora district, Gudoora, Chandgam, Pinglena, Parigam, Abhama, Sangerwani and Khaigam in Pulwama district, Waskura in Ganderbal, Sedew, and Ramnagri in Shopian district have been declared as red zones," said Department of Information and Public Relations, J-K, in a tweet.

In Srinagar district, Mehjoor Nagar, Natipora, Lal Bazar, Eidgah and Shalteng villages have been declared as red zones.

"Chadoora in Budgam district of Kashmir division has also been declared as red zone," another tweet said.

The total number of COVID-19 cases in Jammu and Kashmir climbed to 49 after 11 more people tested positive in the Union Territory on Monday. While three of these cases were reported from Jammu region, eight were from the Kashmir division.

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News Network
January 12,2020

Tehran, Jan 12: Iranian police dispersed students chanting “radical” slogans during a Saturday gathering in Tehran to honour the 176 people killed when an Ukrainian airliner was mistakenly shot down, Fars news agency reported.

News agency correspondents said hundreds of students gathered early in the evening at Amir Kabir University, in downtown Tehran, to pay respects to those killed in the air disaster. The tribute later turned into an angry demonstration.

The students chanted slogans denouncing "liars" and demanded the resignation and prosecution of those responsible for downing the plane and allegedly covering up the accidental action.

Iran said Saturday that the Ukraine International Airlines Boeing 737 was “unintentionally” shot down on Wednesday shortly after taking off from Tehran's main airport. All 176 people on board died, mostly Iranians and Canadians, many of whom were students.

Fars, which is close to conservatives, said the protesting students chanted “destructive” and “radical” slogans. The news agency said some of the students tore down posters of Qasem Soleimani, the Iranian general killed on January 3 in a US drone strike on Baghdad.

Fars published pictures of demonstrators gathered around a ring of candles during the tribute and a picture of a torn poster bearing the image of a smiling Soleimani. It said that police "dispersed" them as they left the university and blocked streets, causing a traffic jam.

In an extremely unusual move, state television mentioned the protest, reporting that the students shouted "anti-regime" slogans.

A video purportedly of the protest circulated online showing police firing tear gas at protesters and a man getting up after apparently being hit in the leg by a projectile. It was not possible to verify the location of the video, or when it was filmed.

Iran's acknowledgement on Saturday that the plane had been shot down in error came after officials had for days categorically denied Western claims that it had been struck by a missile. The aerospace commander of Iran's Revolutionary Guards accepted full responsibility.

But Brigadier General Amirali Hajizadeh said the missile operator acted independently, shooting down the Boeing 737 after mistaking it for a "cruise missile".

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News Network
March 18,2020

Muzaffarpur, Mar 18: Prisoners in the central jail here are working overtime to produce facemasks to prevent the deadly COVID-19 striking. In addition to providing protection to fellow inmates and prison staff, the produce will be shared with nine district and sub jails falling under Muzaffarpur Central Prison as well, Deputy Superintendent of the jail Sunil Kumar Maurya said. From supplications at places of worship to hectic activities at the biggest hospital, this north Bihar district is witnessing invocation of all powers, human and otherwise, to prevent novel coronavirus hitting them.

Although nobody has so far tested positive for the dreaded virus in Bihar, where the state government has imposed a semi-lockdown as a preventive measure, Muzaffarpur which hit the headlines last year for losing close to 200 children to an outbreak of brain fever seems determined not to fall prey to yet another virulent affliction.

On making of facemasks by about 50 prisoners, the Deputy Superintendent of the jail said, "We have had a tradition of producing fabric at the Muzaffarpur Central Jail. An idea was floated why not use the skills acquired for producing masks which are in great demand but in short supply.

The local administration seems impressed with the endeavour of the social outcasts to rise to a global challenge.

"It is a welcome step. Despite all precautions, we never know who is going to catch the infection at which place. The efforts by prisoners to protect themselves and the staff manning their premises is laudable. "Full assistance will be provided to Central Jail authorities in supply of the masks to other prisons," Sub Divisional Magistrate (East) Kundan Kumar said.

A conservative town inhabited by a deeply religious citizenry, Muzaffarpur is also witnessing prayer congregations at temples and mosques in keeping with the tradition here of people of all faiths coming together when faced with a major challenge.

The Garib Nath temple, a renowned shrine devoted to Lord Shiva which attracts devotees from far and wide, is witness to the power of faith trumping the biggest fears as the footfall seems to have increased since the outbreak.

The temples mahant Vinay Pathak says, "faith can move mountains. People come here in search of strength to face a crisis which has caused worldwide scare. We advise the visitors to conduct regular 'havans' at their houses just like we have been performing here. "The smoke emitted by burning of purified offerings cleanses the air and, who knows, could be an antidote as well," Pathak added.

Chanting of 'Mahamrityunjay mantra', which the faith believe to be potent enough to dispel illness and untimely death, is taking place round the clock at the shrine in addition to 'havans', the mahant said.

Just a few yards away stands the Chhata Chowk mosque where large number of devotees appear in skull-caps to offer namaz.

"It is a pandemic threatening to engulf the entire world and dua (prayers) are needed as much as dawa (medicines). May God, who is one, listen to the common wish expressed by humanity in myriad ways," says Imtiaz Ahmed, a devout local resident.

Meanwhile, the health authorities are busy with their own efforts, not leaving prevention and cure to divine intervention.

District Medical Officer Shailesh Kumar Singh says a total of 42 people here who have come from abroad, have been tested but their results have been negative.

"Nonetheless, a five-bed special ward has been set up at the Sadar Hospital, manned by medical staff armed with a special kit comprising medicines and other logistics required for primary care of those with suspected symptoms," he said.

The SKMCH referral hospital, which bore the brunt of last years brain fever epidemic accounting for over 120 deaths is fully geared up to meet the latest challenge.

SKMCH superintendent Sunil Shahi says "we have a 30- ward insulation ward ready. Samples of patients with suspected symptoms are being routinely sent to RMRI, Patna. We appeal to all to remain alert, but avoid panic."

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