CBI charges Rotomac Global in a bank fraud case involving 750 crore rupees
According to sources, the CBI has charged Kanpur-based Rotomac Global and its directors with fraud in the Indian Overseas Bank for a total of Rs 750.54 crore. The company, which was in the writing instrument sector, owes a consortium of seven banks, led by Bank of India, a total of Rs 2,919 crore. Indian Overseas Bank has a 23% exposure to this debt. The company and its directors, Sadhna Kothari and Rahul Kothari, have been charged by the agency under many provisions of the Prevention of Corruption Act as well as IPC sections related to criminal conspiracy (120-B) and cheating…