- The Indian Overseas Bank is the target of an alleged fraud involving the pen manufacturer Rotomac Global, situated in Kanpur, and its directors.
- In comparison to a group of seven banks lead by Bank of India, Rotomac has a total outstanding balance of ₹2,919 crore, with Indian Overseas Bank having a 23% exposure.
- The bank said that the company’s account books had been altered.
CBI has arrested pen manufacturer Rotomac Global in a case of ₹750 crore bank fraud.
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