Here , List of some big loan defaulters in India .
- Vikram Kothari
A few years back student favorite pen Rotomac. Let me clear the connection between Rotomac and Vikram Kothari. Vikram Kothari belongs to a business family. In the 1980s they started to set up stationery business under the name of Rotomac. Now, he is the Chairman and MD of Kanpur based Rotomac Global Private Limited.
As I said before he is belonging to a business family. His family business divided in the late 90s among the two brothers. Vikram gets Rotomac and his brother Deepak Kothari gets Pan Parag.
Now Deepak Kothari is the owner of Pan Parag. As you know Pan- Parag is India’s most popular brand for mouth- freshener.
The Problem began on 18th February 2018. When Bank of Baroda had approached the CBI requesting an FIR against Vikram Kothari, as the bank feared he might leave the country. And the CBI registered the case.
Initially, the alleged scam was estimated to be of Rs 800 crore. But after the CBI Investigation, they found Vikram Kothari’s Rotomac Company taken the loan from seven nationalized bank such as Bank of India, Bank of Maharashtra, Union Bank of India, Indian overseas bank, Oriental Bank of Commerce, Allahabad Bank etc…. And the total outstanding amount along with interest is RS 3,695 crore.
Regarding this concern, the Enforcement Directorate (ED) had notified all the land, sea, and airport in the country to prevent the exit of Vikram Kothari, and his family members from India.
2. Nirav Modi
Nirav Modi is the famous diamond businessman but he has power plant also. Now a day he is a most wanted criminal due to different cases such as cheating, corruption and most popular fraud etc.
He started his own brand NiravModi Brand in 2010 and opens two stores one in Delhi’s Defence Colony and one in Mumbai’s Kala Ghoda.
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He is coming in the news when Panjab National Bank filed a criminal complaint that accused Mr. Modi and other of defrauding the bank, the costing is 280 crore. Most important first time this was noticed by a new employee that he is trying to get some undertaking letter from out of the procedure.
After the CBI investigating the scam amount was Rs 11,345 crore. Unfortunately, before filling the complaint NiravModi and his family’s member already leave the country.
3. Lalit Modi
He was the first Chairman and Commissioner of the Indian Premier League (IPL). And he runs the tournament for three years until 2010. He has good business skill. The first time he has the idea about IPL and he arranged everything. He was the Vice President of the Board of Control for Cricket in India (BCCI), during the year 2005-2010.
He was well connected to the politics and specially BharatiyaJanata Party (BJP) leader VasundharaRaje. He was also called “Super Chief Minister” by the opposition and media during Raje’s first time Chief Minister.
In 2010 after IPL ended, Modi was suspended from BCCI after accusation of misconduct and financial irregularities. After the investigation he found guilty and BCCI banned him for life in 2013. But Modi denied and blamed accusations on political rivalries.
Before the Enforcement Directorate (ED), investigate against him for financial irregularities, Modi move to London.
4. Mehul Choksi
He is the owner of Gitanjali Group, a retail jewelry company with 4,000 stores in India.
As you know he is the uncle of NiraveModi and he is the mastermind of Panjab National Bank fraud. He was also allegedly involved in stock market manipulation in 2013.
He is wanted by the Judicial Authorities of India for corruption, money laundering and many more.
But he has claimed that he is innocent and the allegations against him are false and baseless.
Now, he held an Antiguan citizenship.
5. Jatin Mehta
He is also a business in the field of Diamond and Jewellery. He was the former chairman of Winsome Diamonds and Jewellery. The winsome group owes Rs 7,000 crore to almost 15 banks in India. Metha and his wife became the citizen of St Kitts and Nevis in 2013-14, just after the defaults began. He had connected with UAE Diamonds Company also.
On April 5, 2017, the Central Bureau of Investigation (CBI) finally booked six cases against the Winsome Diamonds and other group companies.
ED is working on evidence against Metha provided by the UAE.
6. Vijay Vittal Mallya
He is the businessmen and formal politician. And he is well known as the king of the good time. The loan amount is approximately Rs 9000.00 crore. The amount was taken from 17 different banks. Now they are trying to collect.
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In 2005, he has established Kingfisher Airlines.
The problem began now; he was not paid his employees’ salaries for 15 months as of October 2013, due to this he lost its license to operate as an airline.
He and his companies have been involved in financial scandals and controversies since 2012.
He left India on 2 March 2016 before Supreme Court statement.
On 24 April 2016, the Ministry of External Affairs (India) revoked Mallya’s passport.
On 2 May he resigned from the RajyaSabha.