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The King of Good Times Vijay Mallya is now facing bad times. The diamond Mughal Nirav Modi has been stigmatised as Jewel Thief. Fall, what a great fall Lalit Modi had?
Here, one more name has just been added: Vikram Kothari of Rotomac Pens. Flamboyant Vikram and his son Rahul, already arrested, owes over 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.
Interestingly, while pushing the pens, the pen-pushers now are saying Likhte, Likhte “Hate” Ho Jaye unlike what ravishing Ravina (Tandon) said while endorsing Rotomac Pens in 1990s Likhte, Likhte Love Ho Jaye…
The love for writing “Hatewords” emanates out of the fact that the business houses in India caused a whooping Rs. 1.1 lakh crore bad loans or non performing assets to the banking sector between 2013-17 fiscal years. Kotharis were declared wilful defaulters in February, 2017. The bbusiness baron contested it in the Allahabad High Court and won. But Kotharis did not pay back the dues to the banks.
Most surprisingly, Vikram did not curtail costs incurred daily on his extremely opulent lifestyle. The FIR of CBI says a consortium of seven banks gave loans totalling Rs. 2,919 crore to Rotomac Global Private Limited over the last about 10-years. This amount has now risen to Rs. 3,695 crore after accruing interests. Interestingly, Kotharis did not bother to make payments despite repeated requests by the banks. Vikram was declared wilful defaulter in February 2017. But he did not take any step over the last one year to repay the loans.
A.Chowdhury
To read the further article please get your copy of Eastern Panorama March issue @http://www.magzter.com/IN/Hill-Publications/Eastern-Panorama/News/ or mail to contact @easternpanorama.in
