Tax sleuths have attached 14 accounts of Rotomac group in various bank branches in Uttar Pradesh
GN Bureau | February 27, 2018
Six chargesheets have been filed against Rotomac owner Vikram Kothari by the income tax department.
The chargesheets were filed on Monday, a day that also saw Nirav Modi-Mehul Choksi Rs 11,000 crore scam increasing by Rs 1,300 crore.
The prosecution complaints were filed in a special court in Lucknow under various sections of the Income Tax Act, reported Indian Express.
The tax sleuths had attached 14 accounts of the group in various bank branches in Uttar Pradesh. These assets were attached to “recover outstanding tax demands” of about Rs 106 crore from the group.
Rotomac group is being probed in connection with the alleged swindling of Rs 3,695 crore of loan funds advanced by a consortium of seven banks.
CBI had filed a criminal case against Rotomac Global Pvt Limited, its director Vikram Kothari, his wife Sadhana Kothari, son Rahul Kothari and bank officials based on a complaint from Bank of Baroda. The ED also registered a money laundering case against them, reported Business Standard.
In the Nirav Modi-Mehul Choksi scam that is still unravelling, Punjab National Bank has revealed additional unauthorised transactions, increasing the estimated size of the fraud by $204 million (Rs 1,322 crore). This increase means that the total fraud now amounts to nearly $2 billion (Rs 12,622 crore) as against the original estimated $1,772 million (over Rs 11,300 crore), reported Times of India.
From Dependence to Self-Reliance: Mapping India’s Rise as a Global Superpower By Bimal Jalan Rupa Publications, 184 pages, Rs 695 Bimal Jalan, a former governor of the Reserve Bank of India (RBI), has been one of our finest commentators on econom
While many countries have been chasing to reach the carbon neutral status, only a few seem to be living up to their pledges as of now. The famous ’Paris Agreement’ of 2015 was glorified and celebrated that finally 196 countries have united with an intent to mitigate and reduce the greenhouse ga
The government this week announced the Tour of Duty or `Agnipath` scheme for the recruitment of soldiers in the armed forces. Under this scheme new soldiers will be recruited only for four years. This radical and far-reaching scheme has attracted mixed reactions from various quarters. While some officials
UPI has become an integral part of our daily lives now. We use it to buy groceries, we use it to send money to friends and family, we use it to purchase tickets, book shows, pay the cab driver, and a whole host of other things due to the ease and availability of such a platform at our fingertips. The best
Scorching Love: Letters from Mohandas Karamchand Gandhi to his son, Devadas By Gopalkrishna Gandhi and Tridip Suhrud Oxford University Press, 528 page, Rs 1495 Gandhi’s era happened to be an era when letter-writing was a primary mode of communica
Crediting the citizens of Mumbai for coming forward to help the police in combating the crisis situation due to Covid-19, Mumbai police commissioner Sanjay Pandey has said that Mumbai Police lost quite a few policemen during the pandemic but cumulative efforts, with citizens working hand in hand with the p