February 20 2018
The Central Bureau of Investigation (CBI) on Sunday night filed a first information report (FIR) against Rotomac Pens promoter Vikram Kothari for allegedly defaulting on loans worth Rs3,695 crore to nationalized banks.
According to senior CBI officials who did not want to be identified, the scam began in 2008 and it amounted to “misappropriation of funds, criminal breach of trust and violation of FEMA (Foreign Exchange Management Act) guidelines”.