Rotomac case: I-T dept files six chargesheets against Vikram Kothari

The income tax department on Monday said it had filed six chargesheets against Rotomac owner Vikram Kothari for alleged tax evasion.

These plaints were filed in a special court in Lucknow under various sections of the Income Tax Act, sources said.

The tax official had earlier attached four immovable assets of the Rotomac group and its promoters. 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 1 billion from the group, they said.




The Kanpur-based group is being probed by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) in connection with the alleged swindling of Rs 37 billion of loans 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 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 subsequently used to create illegal assets and black money.