TT News Updates,
– CBI busts another corporate scam in Kanpur
– The CBI investigation revealed that the addresses of all the four companies were the same and the employees were also the same.
Kanpur: Investigation agency CBI has exposed another big scam in Kanpur. Rotomac Company has done business of Rs 26000 crores with four companies and the special thing is that these four companies have same address and same employees.
The CBI is now investigating whether loans of Rs 2,100 crore were given to Rotomac on business basis with one-employee companies.
Investigation has revealed that Rotomac has shown a business of Rs 26,143 crore with four companies. The addresses of these companies are the same. Which is a 1500 square feet hall. The surprising thing is that these four companies have only one employee who is also the CEO of the company. Based on the multi-billion rupee business of these companies, banks gave loans worth Rs 2100 crore.
The CBI has alleged that director Vikram Kothari died and Rahul Kothari and others defrauded the bank by manipulating its balance sheet and taking fraudulent loans.
On the complaint of Punjab National Bank, the CBI has registered a fresh case against Rotomac Global directors Rahul Kothari, Sadhana Kothari and unidentified officials for fraud of Rs 93 crore.
According to the CBI, four companies doing business with the Rotomac group exported materials used in paper production. The names of these four companies are Magnum Multi Trade, Triumph International, Pacific Universal General Trading and Pacific Global Resources Private Limited.