Kanpur: Bank of India (BOI) has seized the house of Rotomac company owner Vikram Kothari for non-repayment of 900 crore loan. Kothari has taken a loan from four bank accounts but failed to pay back, now bank will recover its amount by selling the house. Earlier Central Bureau of Investigation[Read More…]
Tag: Rotomac
Rotomac took Rs 2,919 cr loan for wheat export but failed to execute business: CBI
New Delhi: Rotomac Global Private Limited cheated a consortium of banks to the tune of Rs 3,695 crore (including interest) by siphoning off loans sanctioned to the company for procurement of wheat and other goods for export. No export was undertaken, though, according to officials of the Central Bureau of Investigation[Read More…]
CBI raids Rotomac’s Kanpur properties
New Delhi/Kanpur: The CBI on Monday raided several locations in Kanpur in connection with a Rs 800 crore loan default by the Rotomac Pen company’s chief Vikram Kothari, an official said. Kothari is the chairman and MD at the Kanpur-based Rotomac Global Private Limited. Coming close on the heels of the[Read More…]