CBI files case against Rotomac Pens owner Vikram Kothari, others

New Delhi, Feb 19: The Central Bureau of Investigation has filed a case against Rotomac Pens owner Vikram Kothari, his wife Sadhana Kothari, son  Rahul Kothari and unknown bank officials on a complaint from Bank of Baroda.

The probe agency said ” It was alleged in the complaint that in the Rotomac case, conspirators cheated a consortium of 7 banks by siphoning off bank loans to the tune of Rs 2919 crore (principal amount). This does not include the interest liabilities of these loans”.

“Total outstanding amount, along with interest liabilities for Rotomac is Rs. 3695 crore. Banks involved are – Bank of India, Bank of Baroda, Bank of Maharashtra, Indian Overseas Bank, Union Bank of India, Allahabad Bank and Oriental Bank of Commerce”.  it added.

On the other hand, CBI conducted raids on properties of Kothari in 3 locations in Kanpur. Bank of Baroda had registered a complaint with CBI against him.

Kothari is currently being questioned by CBI along with his wife and son.

Meanwhile, a day after reports claimed that Kothar had left India after taking a loan of more than Rs 800 crore, the businessman has come out saying that he is very much in his hometown of Kanpur, News 18 reported.

In a statement, Rotomac MD said, “First of all, it is not a scam. I am not going anywhere. I am an Indian citizen and am very much in my hometown. Though banks have declared my company as a non-performing asset (NPA), I am not a defaulter. The matter is still sub judice with the National Company Law Tribunal (NCLT). I am regularly in touch with the banks and am constantly cooperating with them. I availed the loans and will repay them soon”.

This comes after the 11,400 PNB fraud case.

The PNB has lodged two financial fraud complaints of Rs. 11400 crore and Rs 280 crore against diamantaire Nirav Modi, his family members and business partner Mehul Choksi, the owner of Gitanjali Gems.

The Central Bureau of Investigation (CBI) filed a formal case charging four- Nirav Modi, his wife Ami, brother Nishal and Mehul Choksi- on January 31 over Rs. 280 crore fraud.

The Enforcement Directorate is also conducting raids in many cities at various properties belonging to Nirav Modi and Mehul Choksi.

WeForNews 

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