The Hush Post: CBI’s Bank Securities and Fraud Cell finally arrested as part of its on-going investigations in bank frauds Rotomac owner Vikram Kothari and his son Rahul Kothari. They have been arrested for cheating seven banks of over Rs 3,695 crore. Father-son duo was arrested after three days of interrogation.
Vikram Kothari remained “non-cooperative for past three days.” He did not give any details of shell companies, and that how did he use Rs 2,919 crore he took from the banks.
The two will be produced in a CBI court tomorrow. CBI has already sealed their houses in Kanpur, Delhi and the IT Department have attached their properties and frozen their bank accounts.
Earlier, Bank of Baroda had filed a criminal complaint alleging that Rs 2,919 crore was siphoned off by the Kotharis. A total of seven banks — Bank of India, Bank of Baroda, Indian Overseas Bank, Union bank of India, Allahabad Bank, Bank of Maharashtra and Oriental Bank of Commerce had issued him loans at various times totalling to about Rrs 2,900 crore.
Kothari’s wife Sadhana, who also happens to be the Director in the company, has not been questioned much, but she might be the next in line of interrogation.