February 21, 2018 7:06 AM

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ED prevents exit of Rotomac's Vikram Kothari from India

<div>The Enforcement Directorate today said it had notified all the land, sea and airports in the country to prevent the exit of the promoter of Rotomac pens, Vikram Kothari, and his family members from the country in a loan case.&nbsp;</div>''<div><br />''</div>''<div>The notice has been issued in connection with its money laundering probe into an alleged bank loan fraud of 3,695 crore rupees.&nbsp;</div>''<div><br />''</div>''<div>The agency also conducted searches at multiple locations in Uttar Pradesh, including in Unnao and Kanpur, to gather evidence in the case.&nbsp;</div>''<div><br />''</div>''<div>Official sources said that according to a preliminary probe, the loan amount &quot;was not used for the intended purpose&quot;.</div>''<div></div>''<div>The ED had slapped criminal charges under the Prevention of Money Laundering Act against the company and its promoters on February 18, based on a CBI FIR filed on the same day.</div>''<div><br />''</div>

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