Court hearing the Rotomac Exim bank fraud case has directed the Central Bureau of Investigation (CBI) to file its response to a discharge application moved by businessman Rajesh Bothra, who is facing prosecution over allegations of fraudulent merchanting trade transactions and the use of forged trade documents, including an allegedly fake bill of lading.
The proceedings arise from CBI concerning Rotomac Exim Pvt. Ltd. and its alleged dealings with Allahabad Bank. The case is pending before the Judicial Magistrate-CBI, Lucknow.
Bothra has sought discharge from the criminal proceedings, challenging the material relied upon by the prosecution against him. The CBI has been called upon to respond to the plea before the court considers the matter further.
CBI Case Against Rotomac Exim
The case was registered on the basis of a complaint submitted by Amarjeet Singh Heera, then Deputy General Manager of Allahabad Bank, Lucknow.
According to the allegations recorded in the Allahabad High Court’s order dated 7 April 2026, Rotomac Exim and its promoters were accused of undertaking merchanting trade without genuine underlying business transactions and of using fabricated or forged documents, including dubious sundry-debtor records, financial statements and bills of lading, to induce the bank to release credit facilities.
The prosecution further alleged that the accused subsequently defaulted on their payment obligations and diverted or siphoned off bank funds, allegedly causing wrongful loss to Allahabad Bank.
The CBI registered offences under Sections 120-B, 420, 468, 471 and 477-A of the Indian Penal Code, along with Sections 13(1)(a) read with 13(2) of the Prevention of Corruption Act.
Alleged Fake Bill of Lading
A key part of the CBI’s case against Bothra concerns an overseas transaction involving his alleged company, M/s Gulf Distribution Ltd., Hong Kong.
According to the prosecution case recorded by the High Court, Bothra allegedly made an advance payment of approximately USD 7.5 million, or around ₹50 crore, to Rotomac Exim in connection with export transactions and letters of credit.
Original Chargesheet Was Filed in December 2020
Importantly, the Allahabad High Court’s 7 April 2026 bail order records that the CBI had submitted its chargesheet on 22 December 2020.
The court also noted that the investigation took place during the COVID-19 pandemic and that paragraph 29 of the chargesheet recorded that Bothra could not be examined because of restrictions on international travel.
The High Court observed that the chargesheet had already been filed and that there was no material showing that Bothra had misused his liberty during the period when he was not arrested.
The latest proceedings concerning Bothra’s discharge application are therefore distinct from the filing of the original 2020 chargesheet.
Allahabad High Court Earlier Granted Bothra Bail
Bothra was taken into custody in connection with the case and subsequently approached the Allahabad High Court for bail.
In its judgment dated 7 April 2026, the Lucknow Bench of the Allahabad High Court allowed his bail application. The court noted that the chargesheet had already been filed and that Bothra had not been arrested during the investigation.
The court further observed that there was no evidence that he had misused his liberty and held that, in the circumstances of the case, he should not be sent to judicial custody merely for the purpose of trial after having not been arrested during investigation.
The court relied upon the principles applicable to arrest and custody after completion of investigation, including those discussed in Satender Kumar Antil v. CBI.
Court to Consider Whether Case Should Proceed Against Bothra
The discharge application now places the prosecution material concerning Bothra under scrutiny at the pre-trial stage.
The court’s consideration will involve examining whether the material collected by the investigating agency discloses sufficient grounds for the criminal proceedings against him to continue or whether he is entitled to be discharged.
The CBI’s response to the discharge plea will be significant because the agency is expected to defend the allegations concerning the alleged forged bill of lading, the transactions involving Gulf Distribution Ltd. and the other documents and financial transactions relied upon against Bothra.
At this stage, the allegations remain accusations made by the investigating agency and have not been adjudicated at trial. The filing of a chargesheet does not constitute a finding of guilt. Bothra will have the opportunity to contest the prosecution’s case, and the question of his discharge will be decided by the competent court on the basis of the material and submissions placed before it.
