In loan default case, Vikram Kothari, son questioned by CBI in national capital

Amid Nirav Modi and the ‘PNB scam’ saga playing out, the well known industrialist Vikram Kothari, also promoter of Rotomac Pens, and his son Rahul Kothari are being questioned at the CBI office in Delhi.

This after they were brought in for questioning from Uttar Pradesh’s Kanpur.

The allegation is that the Kotharis may be defaulting on more than Rs. 3,700 crore in loans from government banks.

Investigators have raided the billionaire’s home and establishments in Kanpur and he and his son were questioned all day yesterday.

This even as Vikram Kothari has denied any wrongdoing.

The CBI has filed a case based on a complaint by Bank of Baroda, one of the banks from which Vikram Kothari had taken loans.

It is said that Kothari allegedly owes Rs. 3,695 crore to Allahabad Bank, Bank of India, Bank of Baroda, Bank of Maharashtra, Indian Overseas Bank, Oriental Bank of Commerce and Union Bank of India.

It need be mentioned that in February last year itself, Vikram Kothari was declared a wilful defaulter.

It is said that all through last year, various properties belonging to Mr Kothari and his family members were auctioned by banks in an attempt to recover some of their dues.

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