Designated court of the Central Bureau of Investigation had sanctioned 11-days police custody remand of the Rotomac chairman Vikram Kothari and his son Rahul Kothari, involved in over Rs 3000 crore loan fraud. Their remand began from January 24 (Saturday) and would end on March 7.
Allowing the CBI team to take custody remand of both the accused here on Saturday,
Special Judge, SP Choudhary, directed the officials to take custody of both on Saturday evening and lodge back both in jail by March 7. Earlier Choudhary sent both to 14-days judicial remand. Deputy SP of the CBI, GS Rathi, while pleading to take both on police custody remand, informed the court that the probing team wanted to go ahead with more arrest of the bank officials and other government employees who were hand-in-gloves with the accused to facilitate the fraud. He claimed that several private company employees were also involved in the fraud and that CBI team wanted to confront the accused and try to recover the looted money and brought all the culprits to book.
Earlier on Friday, the probing team took transit remand of both the accused from CBI’s court in Patiala at New Delhi and brought them to lucknow. Both Vikram and Rahul were also present in the CBI court when the judge sanctioned their police custody remand.
It may be mentioned that on February 18, Brijesh Kumar Singh, regional manager of Bank of Baroda in Kanpur, had lodged a case against Ms Rotomac Global Private limited Company and named it’s chairman Vikram Kothari, his wife Sadhna Kothari, son Rahul Kothari, and unknown officials of the bank. The report was registered with the CBI for further action. Singh alleged that through criminal conspiracy with the banking officials posted in Bank of India, Oriental Bank of Commerce, Bank of Baroda, Allahadbad Bank, Bank of Maharastra, Union Bank of India, Indian Overseas Bank etc, the above accused had made a loan fraud of over Rs 3000 crore.
The above bank had sanctioned a credit limit of Rs 2129 crore against which the company withdrawn Rs 2919.39 crore. Bank of Baroda also gave credit limit of Rs 435 crore and at present, a loan of Rs 463 crore was out standing against the Kotharis making the fraud of over Rs 3000 crore. After registration of above case, the CBI got the passport of all the accused cancelled in apprehension that they might slip out of the country. later they conducted raids and recovered indiscriminate documents after which both Vikram and Rahul were arrested.