Rotomac owner Vikram Kothari, son in CBI custody

Rotomac Pens owner Vikram Kothari and his son Rahul Kothari were sent to 11 days Central Bureau of Investigation (CBI) remand by a special court in Lucknow on Saturday.

Both were produced before the special CBI court in connection with the matter.

As per the FIR, Kothari owes Rs 754.77 crore to the Bank of India, Rs 456.63 crore to the Bank of Baroda, Rs 771.07 crore to the Indian Overseas Bank, Rs 458.95 crore to the Union Bank of India, Rs 330.68 crore to the Allahabad Bank, Rs 49.82 crore to the Bank of Maharashtra and Rs 97.47 crore to the Oriental Bank of Commerce.

The principal loan amount stands at Rs 2919 crore.

On Wednesday, the Income Tax (IT) department attached four immovable properties of the Rotomac Group of companies, in Kanpur and Ahmedabad.

Raids were also conducted by the CBI on Monday. 

--ANI