Summary:
Highlights CBI raids Rotomac pens owner, accused of Rs 800-crore fraud Vikram Kothari, wife and son questioned by CBI officers, raids at 4 am He was declared a wilful defaulter in 2017 for failing to repay loansVikram Kothari is the Chairman and Managing Director of Rotomac Global Private Limited. After billionaire jeweller Nirav Modi , industrialist Vikram Kothari, the promoter of Rotomac Pens, is being investigated by the CBI for defaulting on more than Rs 3,600 crore in loans from government banks. In February last year, Mr Kothari was declared a wilful defaulter. Investigators raided Vikram Kothari's home and establishments in Uttar Pradesh's Kanpur around daybreak, hours after the CBI filed a First Information Report (FIR).Vikram Kothari has denied any wrongdoing. He contested it in the Allahabad High Court and won but allegedly didn't pay his dues.All through last year, various properties belonging to Mr Kothari and his family members were put up for auction by the banks to recover a part of their dues..