Mumbai, February 19: The Central Bureau of Investigation (CBI) has registered an FIR against Rotomac Pen’s owner Vikram Kothari on February 19. Based on the complaint from Bank of Baroda (BOB), CBI began their probe and raided Kothari’s residence and office premises in Kanpur. The bank has alleged Kothari of swindling over Rs. 800 Crores. CBI official Abhishek Dayal said, “There have been no arrests made yet. Kothari’s wife and son are being examined by the CBI.”

Latest reports about Rotomac Pen Owner Vikram Kothari; See Tweet:

Earlier, there were reports that Vikram Kothari went missing from Kanpur with a bank loan worth Rs. 837 crores. Addressing the ongoing chaos around him, Kothari said that he hasn’t fled the country and is very much in the city, continuing his business. As per the PTI reports, he said, “I am very much in Kanpur with my family, running my business here... So far as the issue of loans is concerned, I have been in talks with banks for long. Three meetings have taken place with the banks. The matter is pending with the tribunal.”

Vikram Kothari is allegedly accused of failing to repay the loan money from Allahabad Bank, Bank of India, Bank of Baroda, Indian Overseas Bank, and Union Bank of India. As per the reports, the following banks had tweaked and compromised their sanction rules and offered huge loan amount money to the Rotomac promoter.

The following news comes as another shocker after the Nirav Modi-Mehul Choksi scam broke out. The duo is allegedly accused of a financial fraud worth Rs. 11,400 Crores in the Punjab National Bank (PNB). Both Nirav and Mehul fled the country, a day before the PNB officials realised the depth of the matter.

Is the following case of Rotomac Pen’s promoter another financial fraud committed in less than a week, is for time to tell. For now, the opposition parties are all rallying against the Narendra Modi-led government and accusing the PM of colluding with the scamsters.

(The above story first appeared on LatestLY on Feb 19, 2018 01:04 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).