Hyderabad Feb 21: Recently a major scam of bank fraud of Rs 3600 Cr by Rotomac company has been detected and Bank of Baroda had filed a complaint, The CBI had arrested the Vikram kotari the MD of the pen company.
However many interesting facts have been revealed these days. Sources said that the Bank of Baroda has only complained to CBI after Nirav Modi Scam broke Out even though the fraud was detected 2 years ago in 2015.
CBI has said that "the bank has filed a complained out of fear that fearing that Kothari too might leave the country." The Bank in a complaint said that "Since this account (Rotomac) is of high value in this fraud case, we apprehend that directors/guarantors of the company may escape from the country to skip the legal/criminal proceedings."
Experts said that "A swift action would have been taken if complained in 2015 because as per CVC and RBI guidelines the banks must report criminal fraud to investigative agencies".