Diabytes
Vikram Kothari News
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Kothari had launched Pan Masala and Rotomac Pen.
He breathed his last at his residence in Tilak Nagar in the city.
Kothari, who owns the Dum Pan Masala, had started another company by launching Rotomac Pen in 1995.
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The owner of Rotomac Global Pvt. Ltd., Vikram Kothari, was arrested by the CBI and was now in judicial custody.
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It had attached 14 accounts of the group in various bank branches in Uttar Pradesh.
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The father-son duo were arrested by the CBI in connection with the alleged loan default of Rs 3,695 crore to a consortium of seven nationalised banks.
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Watch this segment of DNA to know the top news of the day. Rotomac Pens owner Vikram Kothari and his son Rahul have been arrested by CBI.
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Rotomac Pens owner Vikram Kothari and his son Rahul have been arrested by CBI. Watch to know more.
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The CBI alleged that Kothari, his wife Sadhana and son Rahul, all directors of Rotomac Global Pvt Ltd, had allegedly diverted the loan amount towards purposes other than what they were meant for.
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Kothari, his wife Sadhana, and son Rahul, all Directors in Rotomac Global pvt Ltd, have allegedly diverted the bank loans towards purposes other than they were meant for.
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Rotomac had its glorious run in the 1990s and emerged a top player in the writing instruments market.
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The Kanpur-based group is being probed by the CBI and the Enforcement Directorate in connection with an alleged bank loan fraud of Rs 3,695 crore, given by a consortium of seven banks.
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CBI investigates Rotomac Pens MD Vikram Kothari and his family for 22 hours in Kanpur. He has been accused of defaulting on loans worth Rs 3695 crore to nationalized banks.
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Rotomac pen promoter Vikram Kothari allegedly swindled Rs 3,695 crore from banks.
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The CBI and the ED have tightened the noose against the promoters of the Rotomac Global Private Limited as firm's alleged loan default case touched Rs 3,695 crore.
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Kothari, his wife and his son are being examined by the CBI.
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The Kanpur-based company's owner had taken a loan of more than Rs 800 crore from over five state-owned banks.
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Kothari took a loan of Rs 485 crore from Union Bank of India and a loan of Rs 352 crore from Allahabad Bank.
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