The Income Tax Department has filed a total of 18 prosecution cases against Rotomac Global (P) Ltd under various sections of the IT Act, 1961. The income tax department on Friday attached 12 more bank accounts of the Rotomac group in addition to the 14 bank accounts attached earlier, IT sources said. Six prosecutions have been sanctioned against Rotomac Pens owner, Vikram Kothari, ANI quoted IT sources as saying.

Rotomac Pens owner Vikram Kothari and his son Rahul were on Saturday sent to 11 days CBI remand by a special CBI Court in Lucknow.

On Friday, a Delhi court sent the Rotomac owner and his son to Lucknow on a one-day transit remand on a plea by the Central Bureau of Investigation (CBI).

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Total 18 prosecution cases have been filed against Rotomac Group in bank fraud case as 6 prosecution cases were filed on 24th February. Income Tax Department had also attached 3 more bank accounts of the Group: Income Tax Department
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Vikram Kothari and Rahul Kothari were arrested on February 22 in connection with the Rs 3,695-crore loan default case.

According to the CBI FIR (First Information Report), a consortium of seven banks had extended loans worth Rs 2,919 crore to Rotomac Global Pvt Limited from 2008.

The amount increased to Rs 3,695 crore, including the accrued interest, because of repeated defaults on payment, the agency said.

The CBI had filed the case against Vikram, his wife Sadhana and Rahul, and unidentified bank officials.

(With inputs from ANI)&nbsp;

On Friday, a Delhi court sent the Rotomac owner and his son to Lucknow on a one-day transit remand

The Income Tax Department has filed a total of 18 prosecution cases against Rotomac Global (P) Ltd under various sections of the IT Act, 1961. The income tax department on Friday attached 12 more bank accounts of the Rotomac group in addition to the 14 bank accounts attached earlier, IT sources said. Six prosecutions have been sanctioned against Rotomac Pens owner, Vikram Kothari, ANI quoted IT sources as saying. Rotomac Pens owner Vikram Kothari and his son Rahul were on Saturday sent to 11 days CBI remand by a special CBI Court in Lucknow. On Friday, a Delhi court sent the Rotomac owner and his son to Lucknow on a one-day transit remand on a plea by the Central Bureau of Investigation (CBI). Total 18 prosecution cases have been filed against Rotomac Group in bank fraud case as 6 prosecution cases were filed on 24th February. Income Tax Department had also attached 3 more bank accounts of the Group: Income Tax Department — ANI (@ANI) February 27, 2018 × Vikram Kothari and Rahul Kothari were arrested on February 22 in connection with the Rs 3,695-crore loan default case. According to the CBI FIR (First Information Report), a consortium of seven banks had extended loans worth Rs 2,919 crore to Rotomac Global Pvt Limited from 2008. The amount increased to Rs 3,695 crore, including the accrued interest, because of repeated defaults on payment, the agency said. The CBI had filed the case against Vikram, his wife Sadhana and Rahul, and unidentified bank officials. (With inputs from ANI)

Rotomac case: IT department files total 18 prosecution cases against Rotomac Group

The Central Bureau of Investigation has arrested the owner of Rotomac Pens, Vikram Kothari, and his son Rahul Kothari. The duo has been booked in connection with a loan default of nearly Rs 3,700 crore taken from seven public sector banks.

The principal loan amount is around Rs 2919 crore. Kothari owes Rs 754.77 crore to the Bank of India, Rs 456.63 crore to the Bank of Baroda, Rs 771.07 crore to the Indian Overseas Bank, Rs 458.95 crore to the Union Bank of India, Rs 330.68 crore to the Allahabad Bank, Rs 49.82 crore to the Bank of Maharashtra and Rs 97.47 crore to the Oriental Bank of Commerce.

Four properties of the Rotomac Group were attached by the IT department on Wednesday in Kanpur and Ahmedabad. The CBI conducted multiple raids on Monday.

According to the CBI, the company allegedly used two modus operandi for syphoning off the loans secured from a consortium of banks&nbsp;2008 onwards.

On Tuesday, the <a href="http://www.wionews.com/india-news/cbi-questions-rotomac-owner-vikram-kothari-freezes-14-bank-accounts-33505">IT department attached 14 bank accounts </a>of Rotomac.&nbsp;

The CBI had registered a criminal case against Rotomac, its Director Vikram Kothari, his wife Sadhana Kothari and son Rahul Kothari and unidentified bank officials on a complaint received from Bank of Baroda and conducted raids against them on Monday.&nbsp;

Four properties of the Rotomac Group were attached by the IT department on Wednesday

The Central Bureau of Investigation has arrested the owner of Rotomac Pens, Vikram Kothari, and his son Rahul Kothari. The duo has been booked in connection with a loan default of nearly Rs 3,700 crore taken from seven public sector banks. The principal loan amount is around Rs 2919 crore. Kothari owes Rs 754.77 crore to the Bank of India, Rs 456.63 crore to the Bank of Baroda, Rs 771.07 crore to the Indian Overseas Bank, Rs 458.95 crore to the Union Bank of India, Rs 330.68 crore to the Allahabad Bank, Rs 49.82 crore to the Bank of Maharashtra and Rs 97.47 crore to the Oriental Bank of Commerce. Four properties of the Rotomac Group were attached by the IT department on Wednesday in Kanpur and Ahmedabad. The CBI conducted multiple raids on Monday. According to the CBI, the company allegedly used two modus operandi for syphoning off the loans secured from a consortium of banks 2008 onwards. On Tuesday, the IT department attached 14 bank accounts of Rotomac. The CBI had registered a criminal case against Rotomac, its Director Vikram Kothari, his wife Sadhana Kothari and son Rahul Kothari and unidentified bank officials on a complaint received from Bank of Baroda and conducted raids against them on Monday.

Rotomac bank fraud: CBI arrests Vikram Kothari and his son

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Rotomac case: IT department files total 18 prosecution cases against Rotomac Group

Rotomac bank fraud: CBI arrests Vikram Kothari and his son