Another bank fraud: CBI grills Rotomac Pens owner Vikram Kothari, wife and son in Rs 800 crore loan case
Probe in the Bank of Baroda scam comes close on the heels of a huge Punjab National Bank fraud in which diamantaire Nirav Modi prime accused
The Central Bureau of Investigation (CBI) on Monday grilled Vikram Kothari, owner of the now defunct Rotomac Pens in Rs 800 crore loan fraud case. The Bank of Baroda had approached the CBI with a complaint against Kothari. Kothari had borrowed Rs 800 crore from various public sector banks including Allahabad Bank, Bank of India and Union Bank of India.
Early Monday morning sleuths from the premier investigating agency swooped down on Kothari’s residence in Kanpur and questioned him and his wife for hours.
As the raids were still on, the agency had clarified that no arrests were made as yet in the case. CBI also said apart from Kothari and his wife, his son was also questioned to get to any lead in the investigation.
Yesterday some media reports had said Kothari might have fled the county which he had denied saying he was very much in Kanpur. He had also objected to the media calling his dealings with Bank of Baroda a scam and comparing it with Punjab National Bank fraud.
"I am a resident of Kanpur and I will stay in the city. However, I do have to travel to foriegn countries for business purposes," Kothari told PTI. Kothari took a loan of Rs 485 crore from Mumbai-based Union Bank of India and a loan of Rs 352 crore from Kolkata-based Allahabad Bank. A year later, Kothari has reportedly not paid back either the interest or the loan, according to a PTI report.
The probe in the Bank of Baroda scam comes close on the heels of a huge Punjab National Bank fraud in which diamantaire Nirav Modi the prime accused who is absconding. The PNB has reported fraudulent transactions worth Rs 11,400 crore at its Brady House branch in Mumbai.
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