Published On: Mon, Feb 19th, 2018

CBI raids Rotomac MD’s Kanpur properties, Vikram Kothari detained

New Delhi/Kanpur: The CBI on Monday raided several locations in Kanpur in connection with a Rs 800 crore loan default by the Rotomac Pen company’s chief Vikram Kothari, an official said.

Kothari’s Mall Road office in Kanpur was found shut since last week

Kothari is the chairman and MD at the Kanpur-based Rotomac Global Private Limited and is being under custody as off now.

Coming close on the heels of the Rs 11,515 crore Punjab National Bank’s fraud, the Rotomac case that surfaced late Sunday fanned speculations that Kothari too, might try and flee the country.

Kothari’s Mall Road office in Kanpur was found shut since last week.

The Central Bureau of Investigation’s raid which was going on in three locations in Kanpur followed a complaint received from the Bank of Baroda.

“Kothari, his wife and son are being questioned in Kanpur,” a CBI official said.

A case was also filed against the chairman on Sunday night, the official added.

Kothari had taken loans worth Rs 800 crore from the Allahabad Bank, Bank of India, Bank of Baroda, Indian Overseas Bank and the Union Bank of India.

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