Daijiworld Media Network
Kanpur, Feb 18: After Nirav Modi, Vikram Kothari of Rotomac Pens has come under the scanner for fleeing with loans of more than Rs 800 crore from various government banks in the country, a media report has stated.
According to a report by News18, Kothari has taken loans of more than Rs 800 crores from five banks such as Allahabad Bank, Bank of India, Bank of Baroda, Indian Overseas Bank and Union Bank of India, by compromising bank rules.
Kothari took a loan of Rs 485 crore from Union Bank of India and a loan of Rs 352 crore from Allahabad Bank. However, he has failed to pay back the interest or the loaned amount for the past one year, the report said.
After jewellers Nirav Modi and Mehul Choksi involvement in fraudulent transactions worth Rs 11,360 crore through Punjab National Bank hit limelight, Kothari’ office in Kanpur’s City Center road has been locked and he remain untraceable.
Meanwhile, Allahabad Bank manager Rajesh Gupta told News18 he hoped the amount would be recovered by selling Kothari’s properties