Rotomac Scam Explained in Hindi

Summary

The video script discusses a financial fraud case involving Rotomac, a stationery manufacturing company, which took a loan of nearly 3000 crores from public sector banks in India. The loan has ballooned to over 130 crores due to unpaid interest. The company's director, Vikram Kothari, has been declared a wilful defaulter and is accused of not using the loan for its intended purpose of import-export business. The script also touches on the broader issue of why such companies are given loans when private banks are reluctant, and the challenges faced by ordinary individuals in securing loans despite meeting documentation requirements.

Takeaways

• 🏦 Rotomac, a company involved in manufacturing pens and stationery, has been accused of a fraud involving a loan from a public sector bank.
• 💼 The loan amount was initially around 3000 crores, but due to unpaid interest, it has now ballooned to over 130 crores.
• 📈 The company did not utilize the loan for its intended purpose, which was import and export business, and instead diverted the funds.
• 🏢 Rotomac's office was found closed, leading to suspicions that the company's owner, Vikram Kothari, might have fled the country like Nirav Modi.
• 📚 Vikram Kothari was declared a wilful defaulter by Bank of Baroda in February last year, indicating his refusal to repay the loan along with interest.
• 🏦 The company borrowed from several public sector banks including Bank of Baroda, Bank of India, Union Bank of India, Allahabad Bank, and Oriental Bank of Commerce.
• 🔎 The Central Bureau of Investigation (CBI) has filed a complaint against Rotomac Global Private Limited, Vikram Kothari, his wife, and son, as well as some bank officials.
• 🚨 The Enforcement Directorate has also filed criminal charges against Vikram Kothari and Rotomac under the Prevention of Money Laundering Act.
• 🛂 Authorities have been alerted at all exit points like airports to prevent Vikram Kothari and his family from leaving the country.
• 📋 The company allegedly created bogus companies and used fake documents to secure loans from banks, bypassing the necessary checks and balances.

Q & A

What is the issue with Rotomac, a company mentioned in the script?

Rotomac, a company involved in the production of pan and stationery items, has been accused of a fraud involving a loan of nearly three thousand crores from a public sector bank. The loan amount has now increased to over 130 crores due to unpaid interest.

What was the initial loan amount taken by Rotomac from the bank, and how much has it grown to?

Rotomac initially took a loan of nearly three thousand crores, which has now grown to over 130 crores due to the accumulation of unpaid interest.

Why was the loan not repaid by Rotomac?

The script suggests that Rotomac did not utilize the loan for its intended purpose, such as import and export business, and hence did not repay the loan or the interest.

Who is Vikram Kothari, and what is his connection to Rotomac?

Vikram Kothari is the owner of Rotomac. He has been accused of not repaying the loan and its interest, leading to a fraud case against him.

What is the status of Vikram Kothari's office in relation to the fraud case?

Vikram Kothari's office was closed, and he was rumored to have fled the country like Nirav Modi, but he later appeared in the media stating that he is in Kanpur.

What was the action taken by the Bank of Baroda against Vikram Kothari?

The Bank of Baroda declared Vikram Kothari a willful defaulter in February of the previous year, implying that he intentionally defaulted on the loan.

What does 'willful defaulter' mean in the context of banking?

A willful defaulter is a person or entity that intentionally does not repay a loan or its interest, despite having the means to do so.

Which banks were involved in providing loans to Rotomac, and what is significant about them?

Banks involved include Bank of Baroda, Punjab National Bank, and Allahabad Bank.