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Feb 192018
 

Vikram Kothari Biography Company Scam (Family, Rotomac )

The CBI agency has charged Vikram Kothari, who is a well know businessman from Kanpur and the CMD of the Rotomac Pen Company, with over Rs 800 crore worth fraud. The agency has stated that Mr. Kothari faces charges for his inability to make the repayment of loan amounts to the banks and financial institutions on time. As per the sources CBI has also conducted raids on Vikram Kothari’s office and residential premises and properties.

Vikram Kothari Biography Company Scam Family, Rotomac

NameVikram Kothari
Father nameMansukhbhai Kothari
Mother nameSharda Ben
Date Of birthNA
Birth placeKanpur
SiblingDeepak Kothari, Reeta ben
OccupationBusinessman
CitizenshipIndian
Marital StatusMarried
Wife nameSadhana
Children1
Son nameRahul Kothari
Companies MembershipRotomac Global Private Limited , Mohan Steels Ltd.,  Pan Parag
Current Net WorthNA
Company HeadquartersKanpur (UP)
Area ServedAll over INDIA
Fraud Found800 Crore

Personal Information

  • Vikram Kothari who is also a well known business man of the country and served recently as the CMD of the Rotomac pen company. Mr. Kothari is also well known as the famous Gutka king of the country on account of his leading Gutka and Pan Masala Brands – Pan Parag.
  • Vikram who is a graduate and Hindu by religion has got established by launching his latest brand in 1992 with the launch of Rotomac Pens. Vikram Kothari belongs to the Bania caste and is a native citizen of Kanpur by birth.

Family information

  • Vikram Kothari’s fathers name is Mansukh Bhai Kothari. As per the records Mansukh bhai Kothari is a businessman based in Kanpur and is also the founder for famous Pan Masala Brand – Pan Parag.
  • Vikarm Kothari is also married to Sadhana Kothari who is believed to be a house wife and the two are having a son who is named as Rahul Kohari.

Company and Net worth

  • Kothari Products – The company as a stand alone company has its present market CAP worth Rs 517.19 crore in value. Its shares Book value in present market is expected to reach its peak at Rs 321.01 with over 30 percent dividend and an yield of 1.73 percent value.
  • Rotomac Pens – The Rotomac pens company entitled Rotomac Global has its net worth in Capital equivalent to Rs 25 crore. Apart from this the company has also insured a secured loan of Rs 10202.35 crore as per the 2016 stats collected by the officials.

Scam News

  • As per the latest updates the CBI agency has charged Vikram Kothari of over 800 core fraud with banks and financial institutions. According to the statements, Kothari has been charged on account of defrauding state run banks like Bank Of India, Union Bank (UBI) and Allahabad bank.
  • It has also been stated by the agency that earlier in 2017, Vikarm Kothari was also declared as defaulter by will on account of his inability to repay the loan amounts back to the defaulter banks and financial institutions.
  • Apart from this, the agency has also confirmed that Kothari is involved in defrauding two other nationalized banks like Bank of Baroda (BOB) and Indian Overseas bank (IOB).
  • With an aim to recover the loan amount the banks had also seized the properties and offices of Kothari and decided to put it up against public auction so some part of the loan amount could be recovered back.
  • The agency and its officials have also been questioning Vikram Kotharis family members including his son and wife and it is believed that Kothari who was last seen attending a marriage ceremony on 18th February 2018 has declared that he has not yet fled from the country on account of the charges.

Conclusion

According to the news reports it is expected that the Vikram Kothari’s scam with nationalized banks could in fact be considered as a type of scam created by Nirav Modi against Punjab National Bank.

 

Other

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  2. Women’s Day Essay Information Theme 2018

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