Moneycontrol
Last Updated : Apr 17, 2018 05:42 PM IST | Source: Moneycontrol.com

Rotomac fraud case: CBI questions former CMD of Bank of Baroda

Other officials who were questioned include a General Manager, DGM and director on the board

Tarun Sharma @talktotarun

The Central Bureau of Investigation (CBI) investigation into the Rotomac fraud case has picked up pace with six Bank of Baroda officials being questioned, which includes former CMD MD Mallya and two former executive directors - V Santhanaraman and RK Bakshi.

Other officials who were questioned include a General Manager, DGM and director on the board

A CBI court had last month rejected the regular bail pleas of Rotomac Global promoter, director Vikram Kothari and his son Rahul Kothari, in connection with the alleged Rs 3,695 crore willful loan default case. On March 7, the court had turned down Vikram's interim bail plea also.

The CBI had arrested the duo accused in Delhi on February 23 and since then the accused are in jail.

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.
First Published on Apr 17, 2018 05:41 pm
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