6 chargesheets filed against Rotomac owner Vikram Kothari

Image
ANI New Delhi [India]
Last Updated : Feb 26 2018 | 11:30 PM IST

Six chargesheets have been filed against Rotomac Pens owner Vikram Kothari under various sections of the Income Tax (IT) Act, 1961.

Earlier on Sunday, Kothari's lawyer said that they would file a bail application once the former was sent to judicial custody.

A special Central Bureau of Investigation (CBI) court on Saturday handed over the custody of Vikram and his son Rahul Kothari to the CBI for 11 days in connection with an alleged loan default of Rs 3,695 crore.

The father-son duo allegedly cheated a consortium of seven nationalised banks.

The CBI had registered an FIR against the Kotharis who allegedly owe 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.

Vikram's wife Sadhna Kothari is also accused in the case.

The father-son duo was arrested by the CBI on February 22 in Delhi after the agency alleged that they were not cooperating with the probe.

Earlier, the IT department had attached four immovable properties of the Rotomac Group of companies, in Kanpur and Ahmedabad.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Feb 26 2018 | 11:30 PM IST

Next Story