Rotomac case: I-T dept files 6 charge sheets against Vikram Kothari
PTI|
Feb 26, 2018, 10.43 PM IST
NEW DELHI: The Income Tax Department today said it has filed six charge sheets against Rotomac owner Vikram Kothari for alleged tax evasion.
The prosecution complaints were filed in a special court in Lucknow under various sections of the Income Tax Act, they said.
The taxman had earlier attached four immovable assets of the Rotomac group and its promoters in this case.
It 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, they said.
The Kanpur-based group is being probed by the CBI and the Enforcement Directorate (ED) in connection with the alleged swindling of Rs 3,695 crore of loan funds advanced by a consortium of seven banks.
The CBI had filed a criminal case against Rotomac Global Pvt Limited, its director Vikram Kothari, his wife Sadhana Kothari, son Rahul Kothari and unidentified bank officials based on a complaint from Bank of Baroda and conducted raids against them.
The ED also registered a money laundering case against them.
It will probe if the allegedly defrauded bank funds were laundered and the proceeds of crime subsequently used by the accused to create illegal assets and black money.
This is the second major financial scam to break out after the sensational Rs 11,400-crore fraud allegedly committed by billionaire jewellery designer Nirav Modi and his uncle Mehul Choksi, who is a promoter of Gitanjali group of companies.
The prosecution complaints were filed in a special court in Lucknow under various sections of the Income Tax Act, they said.
The taxman had earlier attached four immovable assets of the Rotomac group and its promoters in this case.
It 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, they said.
The Kanpur-based group is being probed by the CBI and the Enforcement Directorate (ED) in connection with the alleged swindling of Rs 3,695 crore of loan funds advanced by a consortium of seven banks.
The CBI had filed a criminal case against Rotomac Global Pvt Limited, its director Vikram Kothari, his wife Sadhana Kothari, son Rahul Kothari and unidentified bank officials based on a complaint from Bank of Baroda and conducted raids against them.
The ED also registered a money laundering case against them.
It will probe if the allegedly defrauded bank funds were laundered and the proceeds of crime subsequently used by the accused to create illegal assets and black money.
This is the second major financial scam to break out after the sensational Rs 11,400-crore fraud allegedly committed by billionaire jewellery designer Nirav Modi and his uncle Mehul Choksi, who is a promoter of Gitanjali group of companies.
