Another businessman run away after taking a loan of Rs 800 Crores from bank

Rotomac Owner

A comparable, however, less sum (Rs. 800 Crore) misrepresentation is revealing of late. Going into the news, The parent organization of Rotomac Pens has been blamed for escaping with credits of more than Rs 800 crore from different government banks in the nation.

The Union Bank of India and Allahabad Bank has allegedly endorsed, the proprietor of the organization, Vikram an advance of Rs. 485 crores and Rs. 352 Crore credits separately before. However, the borrower neither paid intrigue not the essential sum in most recent one year. At the point when the bank authorities endeavored to contact or achieve Vikram, he is inaccessible and his office in Kanpur stays shut from most recent one week. This is a real worry for both the banks which are as of now enduring with a high number of NPAs (Non-performing resources).

In the midst of the swells crosswise over bank fakes in the country, the senior administrator of Allahabad Bank said that recuperation in Vikram Kothari’s case can be made by offering his properties.

On another hand, the outstanding PNB misrepresentation including Nirav Modi and promoters of Gitanjali Gems is being researched by Enforcement Directorate (ED). As of now, the bank has suspended the presumed authorities for this situation and ED has arrested them as a feature of cross-examination.

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