(PTI)
Days after the Nirav Modi-PNB scam, the banking sector took another big hit with Rotomac pen promoter Vikram Kothari allegedly swindling Rs 3,695 crore from banks, prompting central probe agencies to register cases, question him and carry out searches at his Kanpur premises on Monday. The Central Bureau of Investigation (CBI) and the Enforcement Directorate(ED) are already probing two complaints from the Punjab National Bank (PNB) against billionaire diamantaire Nirav Modi and a jewellery company alleging fraudulent transactions worth about Rs 11,400 crore.
The banks involved in Rotomac’s case, in which the CBI as well as the ED have registered separate cases, with 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), the CBI said. It alleged the accused had cheated a consortium of seven banks by siphoning off bank loans to the tune of Rs 2,919 crore without interest and bank charges and total outstanding amount along with liabilities were pegged at Rs 3,695 crore.
