Loan Scam

Now, Kanpur’s Vikram Kothari of Rotomac Pens is Absconding After Taking 800 Crore Loan

Vikram Kothari, who owns the Rotomac Pens Company, had got a loan issued of over Rs 800 crore from five government banks Bank of India, Allahabad Bank, Bank of Baroda, Union Bank of India and Indian Overseas Bank. Later he broke the terms and conditions. It is alleged that Vikram Kothari took a loan to the tune of Rs 485 crore from Union Bank of India and Rs 352 crore from Allahabad Bank. One year down the line, Kothari has paid back neither the interest nor the principal amount issued to him.