The CBI has filed its chargesheet against Rotomac Global Pvt Ltd and its promoters in connection with the Rs 456.63-crore alleged loan default towards Bank of Baroda, which is part of a total default of Rs 3,690 crore towards a consortium of seven banks, officials said.
After a three-month probe, the chargesheet was filed in a special court in Lucknow. It deals with the Rs 456.63 crore loan of Bank of Baroda as the probe into the remaining amount is still underway, they said, adding that more chargesheets could be filed in the case.
Besides Kanpur-based Rotomac Global Pvt Ltd, the CBI has also charged its CMD Vikram Kothari, his son and director Rahul Kothari, then AGM of Bank of Baroda SK Upadhyay, then senior manager of the bank Om Prakash Kapoor, and then bank manager Shashi Bishwas, they said.
The agency has charged Vikram Kothari and his son, who are in judicial custody, and others of criminal conspiracy, cheating among other crimes, and under provisions of the Prevention of Corruption Act.
The CBI has alleged that the directors of the company diverted loan funds, issued for packing credit, to other purposes.
A consortium of seven nationalised banks has given loans worth Rs 2,919 crore to Rotomac Global Pvt Limited from 2008 onwards, the CBI FIR has alleged.
The amount swelled to Rs 3,695 crore, including the accrued interest, because of repeated defaults on payment, the officials said.
The CBI has initiated the action on the complaint of Bank of Baroda, which was a member of consortium-led by Bank of India, they said.
The principal exposure of the banks regarding the loan is Bank of India (Rs 754.77 crore), Bank of Baroda (Rs 456.63 crore), Overseas Bank of India (Rs 771.07 crore), Union Bank of India (Rs 458.95 crore), Allahabad Bank (Rs 330.68 crore), Bank of Maharashtra (Rs 49.82 crore) and Oriental Bank of Commerce (Rs 97.47 crore), the agency said.
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