CBI records argument against Rotomac Pens proprietor Vikram Kothari, assaults habitation

CBI records argument against Rotomac Pens proprietor Vikram Kothari, assaults habitation

New Delhi: The Central Bureau of Investigation (CBI) on Monday recorded a body of evidence against Rotomac Pens proprietor Vikram Kothari and others, not long after there were reports that Kothari had fled India with Rs 800 crore, obtained from no less than five state-possessed banks. It has become exposed that the investigative organization is at present completing an assault at the home of Kothari. Notwithstanding, not long after the report developed, Kothari said he is right now in Kanpur and reports about him “escaping” are deluding.

In an announcement issued after the underlying reports, Kothari stated: “As a matter of first importance, don’t call it a trick. Likewise, I am not leaving the nation and I am especially in Kanpur. Banks have announced my organization nonperforming resource (NPA), however not a defaulter. The issue is still sub judice with National Company Law Tribunal (NCLT). I have taken advances and will reimburse everything soon,”

As per media reports, Kothari has been blamed for taking advances worth Rs 800 crore from five government-run banks – Allahabad Bank, Bank of India, Bank of Baroda, Indian Overseas Bank and Union Bank of India. All the previously mentioned banks had supposedly “bargained” standards to give away these credits.

A TOI report refering to Union Bank of India and Allahabad Bank sources said Kothari has not paid back either the premium or the credited sum.

The new shock comes days after the disclosure of the uber Rs 11,400 crore extortion at a Mumbai branch of Punjab National Bank, which permitted Nirav Modi Group to misuse the framework and issued counterfeit Letters of Undertaking (LoUs), helping it raise credit from abroad bank offices.

The Central Bureau of Investigation (CBI) on Sunday addressed 11 Punjab National Bank (PNB) authorities and additionally Vipul Ambani, the head financing officer of jewel dealer Nirav Modi’s Firestar International organization, regarding the multi-crore bank extortion, news office IANS announced refering to an authority.

CBI additionally directed ventures at PNB’s Brady House branch in Mumbai, which would proceed until today.

The CBI on Sunday additionally kept in touch with all banks and requesting that they report any inconsistencies in Letters of Undertakings (LoUs), days after the PNB griped about the fake issuance of LoUs and Letter of Credits (LCs) to organizations of Nirav Modi and his uncle Mehul Choksi.

The organization authorities addressed PNB authorities, Vipul and some other Nirav Modi staff and partners in the Rs 11,384 crore trick in Mumbai for more than eight hours.

(This Story originating from TIMESNOW)