A few day back, Punjab National Bank filed a CBI complaint against billionaire jewellery designer Nirav Modi, accusing him and his firm of fraudulent transactions worth ₹11,000 crore. Now, Vikram Kothari, the promoter of Rotomac Pen, may planning to leave the country after defrauding the state-run banks of ₹800 crore.

Kothari had taken a loan of ₹800 crores from 5 state-run banks, including Bank of Baroda, Indian Overseas Bank, Union Bank of India and Allahabad Bank. Meanwhile, Central Bureau Of Investigation (CBI) today raided various properties of him across the country.

Kothari in a statement said:

“First of all, don’t call it a scam. Also, I am not leaving the country and I am very much in Kanpur. Banks have declared my company nonperforming asset (NPA), but not defaulter.”

“The matter is still sub judice with National Company Law Tribunal (NCLT). I have taken loans and will repay it all soon.”

Also, he has denied reports that he has left the country.

“I am a resident of Kanpur and I will stay in the city. However, I do have to travel to foreign countries for business purposes.”

Copyrights 2018. PagalParrot