Bhai Posted February 19, 2018 Report Share Posted February 19, 2018 Vikram Kothari has allegedly gone abroad after swindling Rs800 crore from various public sector banks, including Allahabad Bank, Bank of India and Union Bank of India New Delhi: After billionaire diamantaire Nirav Modi, another defaulter Vikram Kothari, the promoter of Rotomac Pen, has also allegedly gone abroad after swindling Rs800 crore from various public sector banks, including Allahabad Bank, Bank of India and Union Bank of India, people familiar with the matter said. The Kanpur-based company’s owner had taken a loan of more than Rs800 crore from over five state-owned banks. 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 people said. Kothari took a loan of Rs485 crore from Mumbai-based Union Bank of India and a loan of Rs352 crore from Kolkata-based Allahabad Bank. A year later, 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”. http://www.livemint.com/Companies/M0gkASOjEYHefJH2UMxAKM/Rotomac-owner-flees-India-after-taking-Rs800-crore-loans.html Quote Link to comment Share on other sites More sharing options...
Bhai Posted February 19, 2018 Author Report Share Posted February 19, 2018 Quote Link to comment Share on other sites More sharing options...
Bhai Posted February 19, 2018 Author Report Share Posted February 19, 2018 "Will Stay In Kanpur": Rotomac Owner Amid Reports Of Leaving Country Vikram Kothari, Rotomac's owner, had taken a loan of more than Rs. 800 crore from over five state-owned banks, including Allahabad Bank, Bank of India and Union Bank of India. "Will Stay In Kanpur": Rotomac Owner Amid Reports Of Leaving Country Vikram Kothari, Rotomac's owner, had taken a loan of more than Rs. 800 crore from over five state-owned banks, including Allahabad Bank, Bank of India and Union Bank of India. All India | Press Trust of India | Updated: February 19, 2018 07:36 IST by Taboola Sponsored Links Sponsored U.S. Cardiologist Warns: Throw out Your Probiotics Immediately (Gundry MD) Born Before 1969? Claim These 27 “Senior Rebates” (Senior Discounts Club) 6.2KSHARES EMAIL PRINT 25COMMENTS A year later, Vikram Kothari has reportedly not paid back either the interest or the loan. NEW DELHI: HIGHLIGHTS Vikram Kothari, promoter of Rotomac Pen, has allegedly gone abroad He allegedly took loans worth Rs.800 crore from over five banks A year later, he is yet to pay back the loans or the interest on them After billionaire jewellery designer Nirav Modi, another defaulter Vikram Kothari, the promoter of Rotomac Pen, has denied reports that he has left the country. The Kanpur-based company's owner had taken a loan of more than Rs. 800 crore from over five state-owned banks, including Allahabad Bank, Bank of India and Union Bank of India. 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 Rs. 485 crore from Mumbai-based Union Bank of India and a loan of Rs. 352 crore from 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 moved the Allahabad High Court seeking removal of its name from the list of wilful defaulter. A division bench comprising Chief Justice DB Bhosle and Justice Yashwant Verma had passed the order on a petition filed by the company, contending that it has been wrongly declared a "wilful defaulter" by BoB despite having "offered assets worth more than Rs. 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. The development comes less than a week after Punjab National Bank (PNB) had detected a USD 1.77 billion (about Rs. 11,400 crore) scam wherein Mr Modi allegedly acquired fraudulent letters of undertaking (LoUs) from a branch in Mumbai to secure overseas credit from other Indian lenders. The PNB fraud pertains to issuance of fake LoUs to companies associated with billionaire jeweller Nirav Modi by errant PNB employees, which enabled these companies to raise buyers credit from international branches of other Indian lenders. 25COMMENTS Last month, PNB had lodged an FIR with CBI stating that fraudulent LoUs worth Rs. 280.7 crore were first issued on January 16. At the time, PNB had said it was digging into records to examine the magnitude of the fraud. In the complaint, PNB had named three diamond firms - Diamonds R Us, Solar Exports and Stellar Diamonds - saying they had approached it on January 16 with a request for buyers credit for making payment to overseas suppliers. https://www.ndtv.com/india-news/after-nirav-modi-rotomac-pens-rs-800-crore-defaulter-flees-country-1814218 Quote Link to comment Share on other sites More sharing options...
Idassamed Posted February 19, 2018 Report Share Posted February 19, 2018 Ivi maa scams kaavu These are UPA scams antunna BJP Quote Link to comment Share on other sites More sharing options...
Bhai Posted February 19, 2018 Author Report Share Posted February 19, 2018 3 minutes ago, Idassamed said: Ivi maa scams kaavu These are UPA scams antunna BJP Quote Link to comment Share on other sites More sharing options...
coolie Posted February 19, 2018 Report Share Posted February 19, 2018 Society corrupt ainappudu businessman neethi manthulu ela autharu... Indian mindset itself is very corrupt..... Quote Link to comment Share on other sites More sharing options...
perugu_vada Posted February 19, 2018 Report Share Posted February 19, 2018 1 hour ago, coolie said: Society corrupt ainappudu businessman neethi manthulu ela autharu... Indian mindset itself is very corrupt..... agreed, vallani punish chesey govt kuda corruption chestundi, ye party unna power lo same thanthu, dheniki end ledemo ika, ppl are becoming greedy more n more Quote Link to comment Share on other sites More sharing options...
Batman_fan Posted February 19, 2018 Report Share Posted February 19, 2018 3 minutes ago, perugu_vada said: agreed, vallani punish chesey govt kuda corruption chestundi, ye party unna power lo same thanthu, dheniki end ledemo ika, ppl are becoming greedy more n more okay, nuvu prati thread lo idey statement tappa em cheyalev ani telusu. ne statement kosam evadu wait cheyatla ikada Quote Link to comment Share on other sites More sharing options...
Kool_SRG Posted February 19, 2018 Report Share Posted February 19, 2018 Likthe likthe Love ho jaaye Quote Link to comment Share on other sites More sharing options...
perugu_vada Posted February 19, 2018 Report Share Posted February 19, 2018 10 minutes ago, Batman_fan said: okay, nuvu prati thread lo idey statement tappa em cheyalev ani telusu. ne statement kosam evadu wait cheyatla ikada Baga khaalee ga unnav anukunta , follow authunav nannu , gud job, keep it up Quote Link to comment Share on other sites More sharing options...
Kool_SRG Posted February 19, 2018 Report Share Posted February 19, 2018 The count seems to have shooted up to Rs. 3K Crores Plus.. Quote Link to comment Share on other sites More sharing options...
Batman_fan Posted February 19, 2018 Report Share Posted February 19, 2018 Just now, perugu_vada said: Baga khaalee ga unnav anukunta , follow authunav nannu , gud job, keep it up eh thread open chesina ne item statement exact ga kanapadutundi, nuvu ah statement ana maneyi leka threads lo veyadam kuda maneyi. na lanti valu useful discussion petukuntaru. lekaotey conversations anta weekend kabati emotional ayaru antlu vuntundi discussion Quote Link to comment Share on other sites More sharing options...
Bhai Posted February 19, 2018 Author Report Share Posted February 19, 2018 1 hour ago, Batman_fan said: okay, nuvu prati thread lo idey statement tappa em cheyalev ani telusu. ne statement kosam evadu wait cheyatla ikada weekend man. repu nunchi weekday kada Quote Link to comment Share on other sites More sharing options...
Bhai Posted February 19, 2018 Author Report Share Posted February 19, 2018 1 hour ago, Kool_SRG said: The count seems to have shooted up to Rs. 3K Crores Plus.. deenamma Quote Link to comment Share on other sites More sharing options...
kingcasanova Posted February 19, 2018 Report Share Posted February 19, 2018 cheppaam kada achche din ani Quote Link to comment Share on other sites More sharing options...
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