ED registers case against Rotomac Pens owner Vikram Kothari
Just days after the Punjab National Bank (PNB) Rs 11,360 crore fraud came to light, another state-run bank has reported a million dollar scam. The parent company of Rotomac Pens has been accused of fleeing with loans of more than Rs 800 crore from various government banks in the country. According to sources, the owner of the company, Vikram Kothari, had taken a loan of more than Rs 800 crores from five government banks.
Sources have confirmed that Allahabad Bank, Bank of India, Bank of Baroda, Indian Overseas Bank and Union Bank of India compromised their rules to render these loans to Kothari.
-PTC News
