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Another banking scam? Rotomac owner Vikram Kothari under scanner for defaulting 800 crores loan

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Vikram Kothari

The Bank of Baroda had complained to CBI about the loan defaulted by Vikram Kothari. The total loan amount not paid by him is measured up to ₹800 crores.

 

Days after the biggest banking scam of about ₹11,400 crores came to fore involving PNB bank and Jewellery giant Nirav Modi, the CBI has caught hold of another such scam by the owner of Rotomac Pens, Vikram Kothari. The Bank of Baroda had complained to CBI about the loan defaulted by Vikram Kothari. The total loan amount not paid by him is measured up to ₹800 crores.

Following the complaint, the CBI officials raided the premises of Kothari’s residence and grilled him and his wife for hours. The CBI however, confirmed that no arrests were made in the case as of now but the residents including Vikram Kothari’s son were also questioned.

 

On Sunday, the rumours of Kothari having fled the country hit the social media. However, Vikram Kothari denied any such charge and confirmed that he was in Kanpur. He had also taken a strong objection to the media reports calling his transaction a scam like that of Punjab National Bank.

Rotomac’s Vikram Kothari had taken a loan of ₹485 crore and ₹352 crore from Union Bank of India based in Mumbai and Allahabad Bank based in Kolkata, respectively. According to the reports, Kothari had defaulted the payment of loan amount as well as interest.

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MiG 21 fighter jet crashes in Himachal’s Kangra; no news on pilot

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A MiG 21 fighter jet of the Indian Air Force crashed in the Kangra district of Himachal Pradesh on Wednesday, the police said.

The accident took place after 1 pm. A video shows the wreckage of the jet which took off from Punjab’s Pathankot, a frontline Indian Air Force base. Visuals from the site of the accident showed a part of the aircraft engulfed in flames, lying in what appears to be a field.

Superintendent of police of Kangra, Santosh Patial said the pilot was missing. The rescue team is on the way, reported a news agency.

In another aviation accident this year, a small aircraft crashed in a crowded Mumbai neighbourhood on June 28, killing five people, including four crew members and a pedestrian.

The Indian Air Force has been the world’s largest operator of the jet, the first variants of which entered service with the air force in the sixties. This is the second Indian Air Force fighter jet crash in two months.

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Functioning of the state government is ‘completely paralysed’ despite SC verdict: Delhi government

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New Delhi | The Aam Aadmi Party (AAP) led Delhi government on Wednesday told the Supreme Court that the functioning of the state government is “completely paralysed” and it can’t order transfer or posting of officers despite the recent Constitution bench verdict on the administration of Delhi.

The bench of Justices AK Sikri and Navin Sinha said it knows everything and the matter will be taken on July 26 since it is not a regular bench.

Senior advocate P Chidambaram who was representing the Delhi government said, “Functioning of the government is completely paralysed. We cannot post officers, we cannot transfer officers despite the recent constitution bench verdict which has explained every aspect. These issues needs to be adjudicated at the earliest.”

Senior advocate Indira Jaising, who also appeared for the Delhi government, said officers are not willing to file an affidavit on this matter and Delhi Deputy Chief Minister Manish Sisodia had therefore filed the affidavit. “I just wanted to clarify the situation.”

Earlier a five-judge Constitution bench including Chief Justice Dipak Misra recently stated broad parameters for the governance of the Delhi which had a constant power tussle between the Centre and Delhi government since the election of Aam Aadmi Party in 2014.

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Swami Agnivesh files complaint against assault; blames RSS, BJP Yuva Morcha

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Swami Agnivesh

Ranchi | Social Activist and self-proclaimed spiritual leader Swami Agnivesh on Wednesday lodged a complaint with Ranchi Police stating that a couple of people belonging to the right-wing group RSS, and BJP Yuva Morcha (BJYM) entered the premises and assaulted him.

Earlier on Tuesday, Swami Agnivesh was allegedly attacked by a mob when he had gone to Pakur, a place 30 km away from the Ranchi to address the tribals residing in the region. Jharkhand Chief Minister Raghubar Das after the attack provided safety to Agnivesh.

Congress President Rahul Gandhi on Wednesday while condemning the attack on the social activist took a jibe at the BJP in the form of a ‘pop quiz’ on Twitter.

Meanwhile, the Supreme Court on Tuesday condemned the rising mob violence and lynching incident and directed the Parliament to roll-out a new law to punish the defaulters.

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