Kanpur, February 19: Trouble mounted for Rotomac pens owner Vikram Kothari after the Enforcement Directorate (ED) on Monday registered a money laundering case against him and his family members in connection with the alleged bank loan fraud of Rs 3,695 crore. Earlier in the day, the Central Bureau of Investigation (CBI) has registered a case against Kothari and his family in connection with the same case.

The case against Kothari was filed under the Prevention of Money Laundering Act (PMLA), after studying the CBI FIR that was registered yesterday. According to FIR copy loan exposure of bank, Kothari has swindled 754.77 cr from Bank of India, Rs 456.63 cr from Bank of Baroda, Rs 771.07 cr from Indian Overseas Bank,  Rs 458.95 cr from Union Bank of India, Rs 330.68 cr from  Allahabad Bank while Rs 49.82 cr from Bank of Maharashtra and Rs 97.47 cr from Oriental Bank of Commerce.

Kothari is being quizzed by the CBI in connection with the Rs3,695 crore of bank loan funds. As per reports, the scam was earlier estimated at around Rs 800 crore. To recall, the case against Kanpur-based Rotomac Global Pvt. Ltd, its director Vikram Kothari, his wife Sadhana Kothari, and son Rahul Kothari and unidentified bank officials was filed on a complaint received from Bank of Baroda, they said.

As per reports, the CBI searched three locations in Kanpur, including Kothari’s residence and office premises. There have been no arrests in the case yet, CBI spokesperson Abhishek Dayal categorically said. He said Kothari, his wife and his son are being examined by the CBI, which is conducting the searches.

(The above story first appeared on LatestLY on Feb 19, 2018 06:48 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).