Rotomac owner Kothari denies rumours: I am in India and not running away

Following Nirav Modi's footsteps, another defaulter Vikram Kothari, the promoter of Rotomac Pens, has allegedly left the country

Nirav Modi, the 47-year-old billionaire jewellery designer has been the centre of the news for Rs 114-billion banking fraud at Punjab National Bank. Modi left the country on January 1 even before a case was registered against him.

Following Nirav Modi's footsteps, another defaulter Vikram Kothari, the promoter of Rotomac Pens, was alleged to have left the country. Kanpur based Vikram Kothari had taken a loan of more than Rs 8 billion from five state-owned banks — Allahabad Bank, Bank of India, Bank of Baroda (BoB), Indian Overseas Bank, and Union Bank of India. 

However, the promoter denies the rumour