Rotomac Bank Fraud: Income Tax Department Attaches 14 Bank Accounts

After the Central Bureau of Investigation and the Enforcement Directorate, the Income Tax Department has stepped up action against the Rotomac group and its promoters, attaching 14 bank accounts in connection with an alleged tax evasion probe against them, officials said today.

While 11 accounts that are in various bank branches in Uttar Pradesh were attached last night, three were put under similar prohibitory orders last month, they said.

The provisional attachment action has been carried out to "recover outstanding tax demands", understood to be about Rs 85 crore, they said.

They added that while the 11 accounts frozen last night are in the name of the Rotomac group, the rest are in the name of the Kothari family.

The Kanpur-based group is being probed by the CBI and the ED in connection with an alleged bank loan fraud of Rs 3,695 crore.

Also Read: CBI Books Rotomac Promoter In Rs 3,700 Crore Fraud

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