After raiding the premises of Vikram Kothari the promoter of Rotomac Global, the CBI registered a case against the company. The CBI found a loan scam of over Rs. 2,191 crores by the pen company.
An official stated, “It was alleged in the complaint that in the Rotomac case, conspirators cheated a consortium of 7 banks by siphoning off bank loans to the tune of 29.19 billion rupees.”
Vikram Kothari has played the innocence card and said, “Yes, I took a loan from bank but it’s wrong information that I haven’t paid amount to the bank in return of that.” The CBI jumped on the case after a formal letter with a complaint from Bank of Baroda was sent to the investigating department.
In 2017 Kothari was declared a wilful defaulter after failing to pay the loans back.