Hotline: 1800 102 2007
Hotline: 1800 102 2007
Feb, 19 2018

After Nirav Modi, Rotomac Pens Owner goes Untraceable with Bank loans

The scam came to fore after the PNB fraud case by Nirav Modi, Kothari's office in Kanpur's City Center road has been locked and he himself has been untraceable ever since.

After Nirav Modi, Rotomac Pens Owner goes Untraceable with Bank loans

Rotomac Pens owner Vikram Kothari is allegedly has gone untraceable after taking loans worth Rs. 837 crore. Kothari took loan of Rs. 352 crore from Kanpur branch of Allahabad Bank and Rs. 485 crore from three other banks: Bank of Baroda, Indian Overseas Bank, and Union Bank of India.

Rajesh Gupta, Recovery Agent of Allahabad Bank said, “The loan amount is being recovered from the attached properties of Kothari. Allahabad Bank has given loan (to Vikram Kothari) and recovery process is going on. Since properties are attached with loan, so we are hopeful that maximum loan will be recovered at the earliest."

About the loan amount, Gupta said, "The loan is of Rs. 352 crore, which will be recovered through attached properties." The Kanpur banks have put Kothari's loan amount under non-performing asset (NPA).

The scam came to fore after the PNB fraud case by Nirav Modi, Kothari's office in Kanpur's City Center road has been locked and he himself has been untraceable ever since.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Car Wash / Ceramic Coating / Detailing
    Our mission is to provide an array of innovative products..
    Locations looking for expansion Haryana
    Establishment year 2010
    Franchising Launch Date 2020
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Fine Dine Restaurants
    Flechazo meaning “Love at First Sight” is India’s first Concept..
    Locations looking for expansion Haryana
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 3400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Looking for an opportunity helping you to set up your..
    Locations looking for expansion Maharashtra
    Establishment year 1995
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • About Us: At DogSpa we love to spoil, treat and pamper..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities