Rotomac owner, son questioned in Delhi over Rs 3700 crore loan default

Rotomac owner, son questioned in Delhi over Rs 3700 crore loan default

NEW DELHI: The CBI on Wednesday said Rotomac owner Vikram Kothari and his son Rahul were at its headquarters here and were still being questioned in connection with a Rs 3,695 crore loan default case.nnA senior Central Bureau of Investigation (CBI) official told IANS: ?Kothari and his son (Rahul) arrived in Delhi on their own. Thus they are being questioned here.?nnThis was the third consecutive day of their questioning by the probe agency that had earlier carried out the same exercise for two days in Uttar Pradesah?s Kanpur.nnThe CBI had also carried out searches at the pen company owner?s Kanpur-based house and premises on Monday and Tuesday after the Bank of Baroda filed a complaint of loan default against Kothari.nnThe agency had also questioned Kothari?s wife. Several belongings, including their laptops and mobile phones were confiscated by the agency on Tuesday.nnBesides the three, their staff and house keepers were also put through the questioning.nnThe central agency on Sunday night had received the complaint against the Rotomac Pen company?s chief, his wife Sadhana and son that said a consortium of seven banks had extended multi-crore credits to the Kanpur-based firm and its related companies from 2008 onwards.nnKothari is the Chairman and Managing Director of Rotomac, while his wife and son are directors of the company.nnKothari had obtained Rs 2,919 crore from the consortium of seven banks ? Bank of India (Rs 754.77 crore), Bank of Baroda (Rs 456.63 crore), Indian Overseas Bank (Rs 771.07 crore), Union Bank of India (Rs 458.95 crore), Allahabad Bank (Rs 330.68 crore), Bank of Maharashtra (Rs 49.82 crore) and Oriental Bank of Commerce (Rs 97.47 crore), the FIR by the CBI said.nnEarlier, the CBI also sealed a residential premise and an office of Rotomac directors in New Delhi.nnThe Rotomac case coincides with the CBI?s investigation into the massive PNB scam in which bank officials helped Nirav Modi and others get credit from overseas banks using fake guarantees. Nirav Modi and his family left the country in the first week of January.nnSource: IANS

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