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Tag: Loan Default

CBI raids Rotomac's Kanpur properties

New Delhi/Kanpur: The CBI on Monday raided several locations in Kanpur in connection with a Rs 800 crore loan default by the Rotomac Pen company’s chief Vikram Kothari, an official said. Kothari is the chairman and MD at the Kanpur-based Rotomac Global Private Limited. Coming close on the heels of the Rs 11,515 crore Punjab National […]

Crime Branch to probe financial irregularities at Coop Bank

Rourkela: The department of Cooperation has asked the Economic Offences Wing (EOW) of Crime Branch to probe financial irregularities to the tune of Rs 29.57 crore in Odisha State Cooperative Bank (OSCB), Rourkela branch between 2005 and 2015. Based on the report of a special audit, Cooperation Minister Surya Narayan Patro, today, has also ordered […]

vijay mallya
Ready to negotiate one-time settlement with banks, says Mallya

New Delhi: Embattled liquor baron Vijay Mallya on Friday said that he was ready to negotiate with banks for one-time settlement and urged the Supreme Court to intervene. “Public Sector Banks have policies for One-Time Settlements. Hundreds of borrowers have settled. Why should this be denied to us? Our substantial offer before the Supreme Court […]

Builders house
Bhubaneswar: Bank seals builder’s house over loan default

Bhubaneswar: Authorities of Gramya Bank’s Dumduma branch sealed the house of a builder today for non-payment of loan. House of Sibani Builder’s Ratikant Kanungo was sealed by the officials after orders from Khurda collector and with the help of Police. According to sources, Ratikant had taken loan from the Gramya Bank by mortgaging his houses […]