CBI questions Rotomac's Vikram Kothari who defaulted on Rs 3,695 crore repayment

NEW DELHI In yet another case of money laundering, CBI on Monday filed a case against Rotomac pen promoter Vikram Kothari after Rs 800 crore loan default on Bank of Baroda complaint.  The investigative agency is currently questioning Kothari, his wife and son in Kanpur. No arrests have been made so far. The CBI registered an FIR against the entrepreneur. The agency is conducting searches at three places in Kanpur and questioning all the three accused Directors: Vikram Kothari, Sadhana Kothari and Rahul Kothari. CBI has also sealed a residential premise and an office of Rotomac Directors in New Delhi. CBI registered a case after receiving a complaint from Bank of Baroda. "It was alleged in the complaint that in the Rotomac loan default case, conspirators cheated a consortium of 7 banks by siphoning off bank loans to the tune of Rs 2919 crore (principal amount). This does not include the interest liabilities of these loans," the agency said. CBI has been carrying out searches at office and residential premises of Vikram Kothari in connection with the case. As per sources, Kothari had sought a loan from seven banks: Bank of India, Bank of Baroda, Bank of Maharashtra, Indian Overseas Bank, Union Bank of India, Allahabad Bank and Oriental Bank of Commerce. The CBI said that the total outstanding amount, along with interest liabilities for Rotomac is Rs. 3695 crore. CBI spokesperson Abhishek Dayal said Kothari, his wife and his son are being examined by the by the investigation agency. Meanwhile, Kothari,  in an exclusive interview with ABP News on Sunday, claimed that he returned all the money he withdrew from the bank and that he did not flee. He further claimed that he stays in Kanpur and would not leave the city. As per Kothari, the interview was also recorded in Kanpur only. But, the lock on his office contradicted his claims. The Bank of Baroda complaint came days after PNB complained of a loss of Rs 11,500 crore over a scam by diamond merchant Nirav Modi and jeweler Mehul Choksi. UP CM Yogi Adityanath had on Sunday attended a wedding in Kanpur where Kothari was also in attendance.