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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Agencies
August 8,2020

New Delhi, Aug 8: Former Union Minister Rajiv Pratap Rudy on Saturday said that it is unfair and unfortunate to blame the pilots or the Airports Authority of India (AAI) for the Kerala place crash which took place on Friday evening.

"It is very unfortunate and unfair when experts come under television channel and they try to put blame on the Airports Authority of India or the pilots. Airport authority in an institution which has had survived various tests of time for the last 65 to 70 years, or pre-independence, so it is unfair to blame them," he said.

While speaking to news agency, Rajiv Pratap Rudy said that the 737 Boeing aircraft is reliable and the pilots were experienced, and it was wrong to blame them.

He further said that there are many possibilities on what could have happened, and said, "It is an accident and we need to find the facts."
Rajiv Pratap Rudy also expressed his deepest condolences to the family members of those who lost their lives in the plane crash. "This accident is terrible and heart-rending. 

I offer my deepest condolences to the family members of the captain and first officer, and the families of passengers who died and were injured," he said.

At least 18 people died when a plane carrying 190 passengers came from Dubai met with an accident at Karipur airport in Kozhikode on Friday evening, as per the Directorate General of Civil Aviation (DGCA).

"Eighteen people, including two pilots, have lost their lives. It is unfortunate. 127 people are at hospitals, others have been released," said Puri on the Air India Express flight that crash-landed on Friday evening.

Air India Express Dubai-Kozhikode IX-1344 flight, carrying 190 people on board from Dubai under the Vande Bharat Mission, skidded off the runway at Karipur Airport in Kozhikode at 7.41 pm on Friday in which several people sustained injuries.

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News Network
January 31,2020

Jan 31: President Ram Nath Kovind on Friday hailed the contentious Citizenship Amendment Act as "historic" in his address to joint sitting of both houses of Parliament, prompting protests by some opposition members.

He also said that debate and discussion on any issue strengthens democracy while violence during protests weaken it.

"The Citizenship Amendment Act is a historic law. It has fulfilled wishes of our founding fathers including Mahatma Gandhi," he said.

"Debate and discussions strengthen democracy, but violence during protests weaken democracy," he said without directly referring to the anti-CAA protests in the country some of which have witnessed violence.

In a reference to abrogation of Article 370, Kovind said there is happiness among people of India that people in Jammu and Kashmir and Ladakh have got rights on par with the rest of the country.

The president said Parliament has created record in the first seven months of the new government headed by Narendra Modi by enacting several landmark legislations.

"My government is taking strong steps for making this decade as India's decade and this century as India's century," he said.

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News Network
April 26,2020

New Delhi, Apr 26: The total count of coronavirus cases in the country surged to 26,917 on Sunday.

The total COVID-19 cases in the country are inclusive of 5,913 cured and discharged patients, one migrated, and 826 deaths. At present, there are 20,177 active COVID-19 cases in the country.

The Federation of Resident Doctors' Association (FORDA) wrote to the Union Health Minister, Dr Harsh Vardhan, seeking assistance regarding accommodation facilities for resident doctors advised for home quarantine.

In a letter to the Health Minister, the association stated that recently there have been reports of resident doctors from various hospitals who tested positive for COVID-19. As a consequence, their primary contacts who are mostly their colleagues and resident doctors, have been advised to be on home quarantine, the association added.

On the other hand, Maharashtra continues to have the largest number of COVID-19 positive cases at 7,628 . 1,076 persons have been cured in the state while 323 persons have died.

Fresh cases have been reported several states including West Bengal, Maharashtra, Rajasthan and Uttar Pradesh.

The total number of cases in Indore has risen to 1,176, including 57 deaths.

While 133 deaths have been reported from Gujarat where the total number of cases spiked up to 3,071.

Kerala has seen a recovery rate of around 74 per cent as 338 out of the total 457 COVID-19 positive patients recovered in the state with only 4 fatalities.

Delhi has seen 2,625 COVID-19 positive cases and 54 deaths due to the pandemic.

Here's a quick read on the COVID-19 related updates:

1. A five-member Central team visited Telangana Director General of Police (DGP) office here on Sunday, to review the law and order situation in the state and oversee how the state police are ensuring the implementation of the lockdown.

2. Post Graduate Institute of Medical Education and Research (PGIMER) Chandigarh and AIIMS Delhi and Bhopal will study the effectiveness of Mycobacterium w in critical COVID-19 patients.

3. Chandigarh-based Post- Graduate Institute of Medical Education and Research (PGIMER) said that it has assessed the safety of mycobacterial w (Mw), an immunomodulator for leprosy, in four hospitalised patients of COVID-19, and has found no short-term adverse effect.

4. As many as 2,189 cases were lodged and 10,062 people have been arrested so far, for the breach of lockdown norms in Uttarakhand.

5. The Delhi High Court has directed that COVID-19 related tests should be made available to the general public at the lowest cost possible as the country is going through an unprecedented medical crisis affecting public order.

6. Bihar government has ordered two automatic RNA extraction machines, said the Principal Secretary of Health, Sanjay Kumar today.

7. Medical services at Babu Jagjivan Ram Hospital in the Jahangirpuri area have been closed and the hospital is being sanitised after 44 staff members including doctors were tested positive for COVID-19, Delhi Health Department said.

8. In order to support the frontline workers in the fight against COVID-19, Samsung and Google will be offering free phone repairs to health care workers and first responders.

9. Bhopal Division of Indian Railways has converted 74 railways coaches into isolation wards, said Sunil Dhingra, Senior Section Engineer of Bhopal Division.

10. Indian High Commission here on Sunday said two Air India and one Blue Dart flights will send about 78 tonnes of cargo to India as part of the 1 million PPE kits being sourced from Singapore-based company.

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