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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Agencies
June 17,2020

Mumbai, Jun 17: A lawyer on Wednesday moved a criminal complaint against 8 persons, including Bollywood superstar Salman Khan and producer-director Karan Johar, in a local court regarding the death of Bollywood actor Sushant Singh Rajput.

The court had fixed July 3 as the next date of hearing.

In his complaint filed in the court of Chief Judicial Magistrate, advocate Sudhir Kumar Ojha alleged that these eight persons forced Sushant to commit suicide under a conspiracy which, he pleaded, amounted to murder.

Others named in the complaint are Aditya Chopra, Sajid Nadiadwala, Sanjay Leela Bhansali, Bhushan Kumar, Ekta Kapoor, and director Dinesh.

The complainant claimed that these persons did not let Sushant's movies get released under a conspiracy and the late actor was not even invited to film functions because of these people.

Ojha said that Sushant Singh Rajput's death had not only hurt the people of Bihar but the entire country.

He said the complaint had been filed under Sections 306, 109, 504 and 506 and Bollywood actor Kangana Ranawat had been listed as a witness in the case.

Sushant Singh Rajput had allegedly committed suicide at his Bandra flat in Mumbai on Sunday.

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News Network
July 20,2020

Aligarh, Jul 20: The son of a motor mechanic in Aligarh, who had received a scholarship, topped at his high school in the United States.

Mohammad Shadab, son of the motor mechanic, told ANI, "Last year, I received the Kennedy-Lugar youth exchange scholarship worth Rs 20 lakh from the US government. Following this, I went to the States to pursue my high school education."

Out of 800 students, Shadab was also selected Student of the Month at his school. On his achievement, he said, "It was an achievement for me to be awarded this tag."

"I have worked really hard to top the high school," Shabad said.

Shadab said, "The condition at home was not good and it is still not that good. I want to support my parents and make them feel proud."
He also thanked the Indian government. "I am thankful to the Indian government for making me the flag-bearer in another county and choosing me for this scholarship."

Shabad's father, Arshad Noor, who is working as a motor mechanic for the past 25 years, said, "We had sent him to the US for his education and I am happy that he topped at the school."
On being asked about his son, Arshad said, "I want my son to become an IAS officer and serve the country."

But Shadab expressed the desire to work at the United Nations as a human rights officer.

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News Network
June 20,2020

New Delhi, Jun 20: A rare celestial event, annular solar eclipse, which is popularly known as the "ring of fire" eclipse, will be visible this Sunday in India.

It will be the first solar eclipse of this year takes place on the summer solstice, which is the longest day in the Northern Hemisphere.

While people living along the path annular eclipse passing through Anupgarh, Suratgarh, Sirsa, Jakhal, Kurukshetra, Yamunanagar, Dehradun, Tapowan and Joshimath will be able to see the annular phase, people in rest of India can witness a partial eclipse, said the Ministry of Science and Technology.

When Moon comes between the Sun and Earth, the shadow falls on the surface of the Earth. The Sun is entirely covered by the Moon for a brief period. Those places that are engulfed by the dark, dense umbral shadow of the Moon experience the total solar eclipse. In the regions that plunge into the soft diffused penumbral shadow of the Moon experience the partial eclipse.

"Annular solar eclipse is a particular case of the total solar eclipse. Like the total solar eclipse, the Moon is aligned with the Sun. However, on that day, the apparent size of the Moon happens to be a wee smaller than the Sun. Hence the Moon covers the central part of the Sun, and the rim of the Sun appear like a 'ring of fire' in the sky for a very brief moment" explains Samir Dhurde of The Inter-University Centre for Astronomy and Astrophysics, Pune.

During the solar eclipse, the apparent size of the Moon is smaller than that of the Sun by 1 per cent, the expert said.

Allying rumours that the eclipse will mark the end of coronavirus, Aniket Sule, Chairperson, Public Outreach and Education Committee of the Astronomical Society of India, said: "Solar eclipse is caused when the Moon comes in front of the Sun for a short time. As seen from Earth eclipses occur somewhere in the Earth 2 to 5 times a year. Eclipses do not impact microorganisms on Earth. Likewise there no danger in eating of stepping out during an eclipse. No mysterious rays come out of the Sun during an eclipse."

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