LUCKNOW: Kanpur-based pen-maker Rotomac colluded with officials of nationalised banks between 2009 and 2013 to do business transactions that integrated import of diamonds, gem stones and export of iron ore and damaged white wheat, the CBI has present in its probe into the costs towards the company accused of defaulting Rs,3000 crore fee to various banks.
"Investigation has revealed that as per memorandum of association of M/s Rotomac Global Private Ltd, the company is engaged in business of manufacturing, import and export of writing instruments - including pens, ball pens, fountain pens, highlighters - and also carry on the business of leasing and higher purchase, import and export of chemical polymers, plastics, products and merchandise either in raw, semi-finished and finished diamonds," the CBI has mentioned in its chargesheet. "The leg of business is related to trade in electronic goods, wheat and diamonds," the chargesheet adds.
The CBI, in February, had charged Rotomac and its owner-directors Vikram Kothari, his spouse Sadhna Kothari and son Rahul Kothari. It has now integrated 3 bank officials within the chargesheet that was once submitted ahead of Lucknow bench of the Allahabad prime court docket early this week.
The probe has discovered Rotomac took foreign letters of credit score from Bank Of Baroda, beginning with Rs 200 crore on December 27, 2008, and no longer handiest kept increasing it to a number of thousand crores but also got the mortgage phrases changed therefore to import "cut and polished diamonds" for "domestic sales" from Dubai and export iron-ore and wheat to Singapore. The CBI has also discovered that Rotomac misused the packing credit score amenities for importing gem stones and jewelry from one Madird Impex in Dubai for Rs5.35 crore in February 2012.
"Investigation has revealed that as per memorandum of association of M/s Rotomac Global Private Ltd, the company is engaged in business of manufacturing, import and export of writing instruments - including pens, ball pens, fountain pens, highlighters - and also carry on the business of leasing and higher purchase, import and export of chemical polymers, plastics, products and merchandise either in raw, semi-finished and finished diamonds," the CBI has mentioned in its chargesheet. "The leg of business is related to trade in electronic goods, wheat and diamonds," the chargesheet adds.
The CBI, in February, had charged Rotomac and its owner-directors Vikram Kothari, his spouse Sadhna Kothari and son Rahul Kothari. It has now integrated 3 bank officials within the chargesheet that was once submitted ahead of Lucknow bench of the Allahabad prime court docket early this week.
The probe has discovered Rotomac took foreign letters of credit score from Bank Of Baroda, beginning with Rs 200 crore on December 27, 2008, and no longer handiest kept increasing it to a number of thousand crores but also got the mortgage phrases changed therefore to import "cut and polished diamonds" for "domestic sales" from Dubai and export iron-ore and wheat to Singapore. The CBI has also discovered that Rotomac misused the packing credit score amenities for importing gem stones and jewelry from one Madird Impex in Dubai for Rs5.35 crore in February 2012.
Rotomac colluded with bank staff to import diamonds: CBI
![Rotomac colluded with bank staff to import diamonds: CBI]()
Reviewed by Kailash
on
May 26, 2018
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