Rotomac Director Vikram Kothari, son arrested by CBI in Rs.3,695 crore loan default case


New Delhi: The Central Bureau of Investigation (CBI) on Thursday arrested Rotomac Global Pvt Limited Director Vikram Kothari and son Rahul Kothari in connection with Rs 3,695 crore loan default case.

The CBI had registered a criminal case against Rotomac Global Pvt Limited, its Director Vikram Kothari, his wife Sadhana Kothari and son Rahul Kothari and unidentified bank officials on a complaint received from Bank of Baroda and conducted raids against them on Monday.

According to statement of CBI officials, it was alleged in the complaint from the Bank of Baroda that conspirators cheated a consortium of bank loans to the tune of Rs 3,695 crore including the interest component. The principal amount involved was Rs 2,919 crore. The ED subsequently registered a money laundering case against them.

The CBI on Wednesday questioned Vikram Kothari, and his son at its headquarters in Delhi. The agency had also carried out raids at the billionaire’s home and establishments in Kanpur.

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