Rotomac offices locked for more than a week, but owner Vikram Kothari says “I am very much in India, will repay all loans soon”

The Hush Post: Vikram Kothari, chairman and MD of Rotomac Global Pvt. Ltd. from Kanpur, who went missing after defaulting on repayment of Rs 4,232-crore loans from five public sector banks, has said that he is very much in India and has not fled the country. He issued a statement on Sunday saying he was very much in Kanpur. “So far as the issue of loans is concerned, I have been in talks with banks for long. Three meetings have taken place with the banks. The matter is pending with the tribunal,” he said in the statement.

“Don’t call it a scam. Banks have declared my company non performing asset (NPA), but not defaulter. The matter is still sub judice with National Company Law Tribunal (NCLT). I have taken loans and will repay it all soon,” Kothari said in the statement. The Rotomac office on the Mall Road in Kanpur had been locked for the past few days. Kothari was not available on the phone, which made bank officials suspicious and raise an alarm with the police.

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  1. The news can be said to be covered through implied form in the alert prediction of this Vedic astrology writer in article – “ Astrologically speaking , some highlights for India in coming year 2018” – published last year at theindiapost.com , simultaneously at wionews.com on 19 October , 2017. Just reproducing the text in the related prediction of the said article :-“ (1) Mid-March to 31 May 2018. ………….Chunk of industries may have tough time while looking for vitality. Those involved in decision making or governance of big enterprises or big organizations or think-tanks in the Govt , could be prone to errors or fault-lines or controversies giving rise to revision or amendment. … Some agreements with countries having economic or trading or commercial angle could pose issues causing concern and impeding economic growth”. Here , ‘giving rise to revision or amendment’ obviously means reform or necessary remedial measures.

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