Rotomac case: CBI questions six former Bank of Baroda officials
The CBI has questioned six former Bank of Baroda officials, including then chairman M.D. Mallya, in connection with the Rs3,695 crore Rotomac case
New Delhi:The Central Bureau of Investigation (CBI) has questioned six former Bank of Baroda officials in connection with the Rs3,695 crore Rotomac case.
“These officials were questioned by CBI over the last three days including then chairman M.D. Mallya, and two former executive directors—V. Santha Naraman and R.K. Bakshi,” a person familiar with the development said.
On 18 February, the CBI filed a first information report (FIR) against Rotomac Pens promoter Vikram Kothari for allegedly defaulting on loans worth Rs3,695 crore to nationalized banks.
According to senior CBI officials who did not want to be identified, the scam began in 2008 and involved “misappropriation of funds, criminal breach of trust and violation of FEMA (Foreign Exchange Management Act) guidelines”.
The agency stated in the FIR that Rotomac had cheated a consortium of seven banks by siphoning off bank loans of Rs2,919 crore. With interest, the amount comes to Rs3,695 crore.
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