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
July 18,2020

Golaghat, Jul 18: A total of 96 animals have died in the Kaziranga National Park in Golaghat district of Assam due to floods, the state government informed on Saturday.

"So far, 96 animals have died in the park including eight rhinos, seven wild boars, two swamp deers, 74 hog deer and two porcupines," park officials said.

A report from the government of Assam stated that a total of 132 animals had been rescued from the Kaziranga National Park. The park is currently 85 per cent submerged under floodwaters.

"Water level at Pasighar and Dibrugarh are below the prescribed danger level. The floodwater in Numaligarh, Dhansirimukh and Tezpur are still above danger level," the report stated.

At least 76 people have died and nearly 54 lakh people have been affected in 30 districts of Assam due to floods caused by the monsoon rains and the rise in water levels of the Brahmaputra river, informed the Assam State Disaster Management Authority (ASDMA) on Friday.

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News Network
January 10,2020

New Delhi, Jan 10: The Supreme Court while hearing petitions challenging restrictions in Jammu and Kashmir on Friday stated that the right to access the internet is a fundamental right under Article 19 of the Constitution of India.

"It is no doubt that freedom of speech is an essential tool in a democratic setup. The freedom of Internet access is a fundamental right under Article 19(1)(a) of the Constitution," a two-judge bench headed by Justice N V Ramana stated while reading out the judgment.

The top court said that Kashmir has seen a lot of violence and that it will try to maintain a balance between human rights and freedoms with the issue of security.

It also directed the Jammu and Kashmir administration to review the restrictive orders imposed in the region within a week. “The citizens should be provided highest security and liberty,” the apex court added.

The top court made observations and issued directions while pronouncing the verdict on a number of petitions challenging the restrictions and internet blockade imposed in Jammu and Kashmir after the abrogation of Article 370 in August last year.

The Supreme Court had on November 27 reserved the judgment on a batch of petitions challenging restrictions imposed on communication, media and telephone services in Jammu and Kashmir pursuant to revocation of Article 370.

The court heard the petitions filed by various petitioners including Congress leader Ghulam Nabi Azad and Kashmir Times editor Anuradha Bhasin.

The petitions were filed after the central government scrapped Article 370 in August and bifurcated Jammu and Kashmir into two Union Territories -- Jammu and Kashmir and Ladakh. Following this, phone lines and the internet were blocked in the region.

The government had, however, contended that it has progressively eased restrictions.

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News Network
April 1,2020

Prayagraj,  April 1: Seven Indonesian nationals, one person from Kolkata and one from Kerala who had attended the event at Delhi's Nizamuddin Markaz have been put under quarantine, informed SP (City) Prayagraj, Brijesh Kumar Srivastava on Wednesday.

"Seven Indonesian nationals, one person from Kolkata and one from Kerala, were found at Abdullah mosque here. During the investigation, it was found that they had attended the Markaz gathering in Delhi. These people, along with 28 people who came in contact with them, have been quarantined." he said.

"A case has also been registered against them for not informing the police on reaching here," he added.

Earlier, Delhi Health Minister Satyendar Jain had said that the officials are not certain of the accurate number of people who participated in the event but it is being estimated that 1,500-1,700 people had assembled at the Markaz building.

The religious gathering was held at the Markaz building in Nizamuddin between March 13 and March 15.

The total number of active cases rose to 1466 in the country, while 132 people have been cured and discharged after receiving treatment, as of 9 am.

The number of deaths due to the infection also rose to 38, while one person has migrated.

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