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What is Rotomac Global Loan Scam Exposed about?
Rotomac Global orchestrated a Rs. 3,695 crore scam by wilfully defaulting on loans from multiple public sector banks. The CBI has filed a case against Rotomac directors for cheating the consortium of seven public sector banks by siphoning off loans since 2008. This scam is similar to the PNB scam in the breakdown of internal controls and supervisory failures at banks, but took longer to surface despite Rotomac being classified as a non-performing account since 2015. Strengthening corporate governance, indep
- Author
- Akansha Sharma
- Language
- EN