Rotomac Owner Vikram Kothari, Son Arrested Over Rs. 3,700-Crore Loan Default

Industrialist Vikram Kothari, the promoter of Rotomac Pens, and his son Rahul Kothari, were arrested today in Rs. 3,700-crore loan default case.The Kotharis allegedly owes Rs. 3,695 crore to Allahabad Bank, Bank of India, Bank of Baroda, Bank of Maharashtra, Indian Overseas Bank, Oriental Bank of Commerce and Union Bank of India. Investigators had raided the billionaire's home and establishments in Kanpur on Thursday. Mr Kothari and his son were questioned all day on Wednesday.