Rotomac Pen company loan default case: CBI files FIR
The Central Bureau of Investigation (CBI) on Monday registered an FIR against Rotomac Pen and its promoter Vikram Kothari for allegedly defaulting on loans of over Rs 800 crore from multiple banks.
The agency is currently carrying out raids at three locations in Kanpur where the company is based. Kothari, his wife, and his son are being questioned by a CBI team in connection with the case at their residence in Kanpur. Kothari was earlier rumoured to have left the country, but he clarified through local media yesterday that he was in Kanpur.
The CBI has registered a case against Rotomac, a pen manufacturer, on the basis of a complaint from the Bank of Baroda (BoB). The bank had in February 2017 declared Rotomac as a "willful defaulter". Rotomac had contested the tag in the Allahabad High Court on the ground that it had offered Rs 300 crore assets to the bank and still it was called a willful defaulter. The company had got an order in its favor but failed to pay the loans.
The Kanpur-based company's owner had taken a loan of more than Rs 800 crore from over five state-owned banks.
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Kharge Urges union minister to fast track key proposals for Central University of Karnataka
Bengaluru (PTI): Congress President Mallikarjun Kharge on Friday demanded the Union Education Minister Dharmendra Pradhan to expedite the approval of key proposals related to Central University of Karnataka, Kalaburagi, which are currently pending before the Centre.
In a letter to the Minister, he noted that the Central University of Karnataka serves as an hub of education for students not only from Kalaburagi and the seven districts of the Kalyana Karnataka region but those from entire Karnataka and several areas of neighbouring states.
Kharge who is also the Leader of Opposition in Rajya Sabha said that the University plays a vital role in addressing educational disparities and fostering opportunities for growth.
Highlighting that the development and growth of such institutions require the Central Government's sustained financial and institutional support, Kharge stated that sanction of new postgraduate departments, teaching positions and HEFA funding proposal that are critical to the progress of the University and the region await the approval from the Government of India.
In the letter, Kharge stated that the University Grants Commission (UGC) has recommended establishing various postgraduate departments, including Statistics, Artificial Intelligence and Machine Learning, Plant and Animal Sciences, Genetics and Genomics, Library and Information Science, and a BA/LLB program. The matter is currently under consideration.
"To operationalize the proposed departments, the sanction of 55 teaching positions is essential. This proposal is also in the advanced stages of process and awaiting approval," he said.
Kharge also mentioned that the University has submitted a proposal under the Higher Education Financing Agency (HEFA) for constructing hostels for boys and girls, along with other essential infrastructure. This matter is also under consideration.
"Given the importance of these initiatives for the development of the Kalyana Karnataka region and their significant impact on students from underprivileged and underdeveloped areas, I kindly request your urgent intervention in the matter. I urge you to instruct the concerned officials to follow-up and expedite the approval of said proposals on a priority basis," he stated.
