Rotomac Scam: IT Attaches 11 Bank Accounts

February 20, 2018 16:24
Rotomac Scam: IT Attaches 11 Bank Accounts

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Rotomac Scam: IT Attaches 11 Bank Accounts:- Rotomac pens CEO Vikram Kothari has been in news after CBI and ED managed to locate a fraud of Rs 3695 crores from seven banks right from 2008. Though the scam was initially thought to be Rs 800 crores, after CBI investigated, the amount reached Rs 3695 crores. Now the Income Tax department attached 111 bank accounts in connection with the tax evasion against Vikram Kothari and his family members.

Rotomac promoter Vikram Kothari is being investigated by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) currently. His properties across New Delhi aand Kanpur have been searched and seven banks are said to have lent loans for the businessman. As per the reports from Times of India,  the defaulted loan amount in brackets were Bank of Baroda (Rs 456.53 crore), Bank of India (Rs 754.77 crore), Bank of Maharashtra (Rs 49.82 crore), Allahabad Bank (Rs 330.68 crore), Oriental Bank of Commerce (Rs 97.47 crore), Indian Overseas Bank (Rs 771.07 crore) and Union Bank of India (Rs 458.95 crore).

With the country shaken by Nirav Modi's Rs 11400 scam, this is second biggest scam of the year already.

(Video Source: Sakshi TV)

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Rotomac Scam  Vikram Kothari