Rotomac Kothari owes various banks Rs 3,695-cr: CBI files FIR

News Network
February 19, 2018

New Delhi, Feb 19: The Central Bureau of Investigation (CBI) has registered a case against Rotomac pen promoter Vikram Kothari and his family in connection with a case related to the alleged swindling of Rs3,695 crore of bank loan funds, officials said here on Monday. The scam was earlier estimated at around Rs800 crore.

The case against Kanpur-based Rotomac Global Pvt. ltd, its director Vikram Kothari, his wife Sadhana Kothari, and son Rahul Kothari and unidentified bank officials was filed on a complaint received from Bank of Baroda, they said.

The agency searched three locations in Kanpur, including Kothari’s residence and office premises. There have been no arrests in the case yet, CBI spokesperson Abhishek Dayal categorically said. He said Kothari, his wife and his son are being examined by the CBI, which is conducting the searches.

The Enforcement Directorate (ED) has also registered a money laundering case against Kothari and his family members in connection with the alleged bank loan fraud of Rs3,695 crore, officials said. The case was filed under the Prevention of Money Laundering Act (PMLA), after studying the CBI FIR that was registered yesterday.

The ED, the officials said, would probe if the funds obtained through the alleged fraud were laundered and if the proceeds of the crime were subsequently used by the accused to create illegal assets and black money.

According to the complaint from Bank of Baroda, the conspirators allegedly cheated a consortium of bank loans of Rs3,695 crore, including the interest component, officials said. The principal involved is Rs2,919 crore.

This is the second major financial scam to break out after the sensational Rs11,400 crore fraud allegedly committed by billionaire jewellery designer Nirav Modi and his uncle Mehul Choksi, who is a promoter of Gitanjali group of companies. Both fled the country before the Punjab National Bank realised the depth of the alleged crime. 

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News Network
June 8,2020

New Delhi, Jun 8: Places of worship on Monday across the country reopened after staying shut since March due to the COVID-19 induced lockdown.

Scores of temples, mosques and gurudwaras were seen opening up keeping in view the Standard Operating Procedure (SOP) issued by Union Home Ministry to prevent coronavirus spread.

As per Ministry of Health guidelines, touching of idols/holy books, choir/singing groups, etc are not allowed.

In Delhi, people gathered at Gauri Shankar Temple in Chandni Chowk to offer prayers. With national capital seeing a rise in coronavirus cases, the devotees were seen wearing masks and taking precautions. People were also seen offering prayers at Kalka Ji Temple.

Several people arrived at Sri Bangla Sahib Gurudwara to offer prayers. Devotees were made to pass through the disinfectant tunnel before entering the Gurdwara in order to prevent the virus.

In Uttar Pradesh, Chief Minister Yogi Adityanath offered prayers at Gorakhnath Temple after state government allowed re-opening of places of worship from today.

Devotees were seen offering prayers at Eidgah Mosque in Lucknow.

Devotees also offered prayers at Shree Dodda Ganapathi Temple in Basavanagudi, Bengaluru.

Hanuman Garhi Temple in Ayodhya also reopened on Monday.

Prayers were offered at Durga Mata Mandir near Jagraon Bridge in Ludhiana, as the government has allowed reopening of places of worship.

Although religious places have opened in most of the states, however, there are some states which are yet to do so.

Preparations related to Yatra of Char Dhams including Badrinath have been completed, however, local representative of the areas from where the routes of this yatra pass have requested the government to not allow the commencement of the Yatra.

Based on the assessment of the situation, the Odisha Government ordered that all religious places/places of worship for the public will continue to remain closed till June 30.

Earlier, the Union Ministry of Home Affairs (MHA) said that religious places and places of worship for public, hotels, restaurants and other hospitality services along with shopping malls will be permitted to open from June 8.

However, these facilities will not be able to resume operations inside containment zones designated by authorities in states.

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News Network
February 19,2020

London, Feb 19: Indian universities had a good performance year within the emerging economies of the world as a record 11 made it to the top 100 Times Higher Education's (THE) Emerging Economies University Rankings 2020.

Only China has more universities than India in the top 100 at 30 from a total of 47 countries and territories included in the analysis released in London on Tuesday evening.

A total of 56 Indian universities appear in the full ranking of a total of 533 universities across emerging economies of the world.

The Indian Institute of Science (IISc), ranked 16th, is India’s top-ranked institution followed by the Indian Institute of Technologies (IITs).

"There has long been a debate about the success of Indian universities in world rankings, and for too long they have been seen as underperforming on the global stage," notes Phil Baty, Chief Knowledge Officer for the THE.

"The Emerging Economies University Rankings 2020 suggests that real progress is being made by a number of institutions in a number of metrics across our robust methodology, and could mark an exciting turning point for Indian higher education, enabled in part by the Institutes of Eminence scheme," he said.

The Indian government’s Institutes of Eminence scheme was established in 2017 and one of its participating universities, Amrita Vishwa Vidyapeetham, has entered the top 100 for the first time, moving up a huge 51 places from joint 141st in 2019.

The other universities included in the Institutes of Eminence scheme that appear in the top 100 mark the biggest improvers in the ranking with IIT Kharagpur moving up 23 places to 32nd, IIT Delhi improving by 28 places to joint 38th and IIT Madras climbing 12 places to joint 63rd.

The Institutes of Eminence scheme provides participating universities with government funding and greater autonomy with the aim of moving them into the top 100 of the world university rankings, including Times Higher Education’s World University Ranking, over time.

The expectation is that this will be achieved through a number of changes including an increase in foreign students and staff, offering online courses and encouraging academic collaboration with other top universities around the world.

This year marks only the second time that 11 Indian institutions have held top 100 positions since the ranking began in 2014, when much fewer universities took part in the ranking globally.

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News Network
May 20,2020

United Nations, May 20: Highlighting India's long-standing history of promoting inclusive and peaceful societies, a top UN official on Tuesday voiced concern over incidents of "increased hate speech and discrimination" against minority communities in the country following the adoption of the Citizenship Amendment Act.

Under-Secretary-General and UN Special Adviser on the Prevention of Genocide Adama Dieng, however, welcomed Prime Minister Narendra Modi’s call for unity and brotherhood in the wake of the COVID19 pandemic.

Dieng said in a note to the media on Tuesday that he is "concerned over reports of increased hate speech and discrimination against minority communities in India" since the adoption of the Citizenship Amendment Act (CAA) in December 2019.

The Indian government has maintained that the CAA is an internal matter of the country and stressed that the goal is to protect the oppressed minorities of neighbouring countries.

The CAA, which was notified on January 10, grants Indian citizenship to non-Muslim minorities migrated to India from Afghanistan, Pakistan and Bangladesh till December 31, 2014, following persecution over their faith.

"While the objective of the act, to provide protection to minority communities is commendable, it is concerning that this protection is not extended to all groups, including Muslims. This is contrary to India’s obligations under international human rights law, in particular on non-discrimination,” Dieng said.

The Special Adviser recognised "India’s long standing and well recognised history of promoting inclusive and peaceful societies, with respect for equality and principles of non-discrimination.”

He also welcomed recent statements by Prime Minister Modi that the COVID-19 pandemic “does not see race, religion, colour, caste, creed, language or border before striking and that our response and conduct...should attach primacy to unity and brotherhood.”

Dieng encouraged the Government of India to "continue to abide by this guidance by ensuring that national laws and policies follow international standards related to non-discrimination and to address and counter the rise of hate speech through messages of inclusion, respect for diversity and unity.”

He further reiterated that he would continue to follow developments and expressed his readiness to support initiatives to counter and address hate speech.

The hate speech and the dehumanisation of others goes against international human rights norms and values, he added.

“In these extraordinary times brought about by the COVID-19 crisis it is more important than ever that we stand united as one humanity, demonstrating unity and solidarity rather than division and hate,” he said.

Dieng also expressed concern over reports of violence during demonstrations against CAA in some regions of India.

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