Another PNB-Like Scam! Rotomac Pens Owner Vikram Kothari

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Viral Message: Another PNB-Like Scam! Rotomac Pens Owner Vikram Kothari flees after taking loan of ₹ 485 cr from Union Bank of India & loan of ₹352 cr from Allahabad Bank.

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Another PNB-Like Scam! Rotomac Pens Owner Vikram Kothari flees after taking loan of ₹ 485 cr from Union Bank of India & loan of ₹352 cr from Allahabad Bank.

Viral Message Verification:-  As per latest information Rotomac owner Vikram Kothari has dismissed speculation of his fleeing the country as baseless.

The Kanpur-based company's owner had taken a loan of more than Rs. 800 crore from over five state-owned banks, including Allahabad Bank, Bank of India and Union Bank of India.

There are reports that he has left India, however Kothari said "I am a resident of Kanpur and I will stay in the city.

However he further said, I do have to travel to foreign countries for business purposes. He took a loan of Rs Rs. 485 crore from Mumbai-based Union Bank of India and a loan of Rs. 352 crore from Kolkata- based Allahabad Bank.

The chances are high that he might be the next to leave the Country India and go abroad. Yet there is nothing much clear on this.

Wilful defaulter: Last year, Bank of Baroda (BoB), a consortium partner declared pen manufacturer Rotomac Global Pvt Ltd as "wilful defaulter".  The Allahabad High as well declared Rotomac a wilful defaulter vide an order dated February 27, 2017 passed by an authorised committee, as per the procedure laid down by the Reserve Bank of India.

As per ANI, The Central Bureau of Investigation on Monday conducted raids at the Kanpur home of chairperson of Rotomac Pens, Vikram Kothari.

Rotomac Pens owner #VikramKothari seen at the wedding of Jagran group owner Sanjeev Gupta's daughter's wedding in Kanpur yesterday

Till now there is no fact to prove he has left India.



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