I am very much here, Vikram Kothari, the promoter of Rotomac Pen said after reports of him fleeing emerged. It was reported that Kothari had gone missing after allegedly defaulting on repaying Rs 4,232 crore loans from five public sector banks.
I am very much here, Kothari said. So far as the issue of loans is concerned, he said that he has been in talks with the banks for long. So far three meetings have taken place with the banks, he also said. The matter is pending with the tribunal, he also added.
Kothari had been declared a defaulter over a year back. An FIR was lodged by the officials of the Indian Overseas Bank after a cheque worth Rs 600 bounced. Kothari however denied the charge and said," show me one cheque of mine that has bounced. This is slander he added while adding that he had faith in the judicial system.
Mansukhlal Kothari, who established Pan Parag in 1973, left his empire for his sons Vikram and Deepak who divided the businesses. While Deepak kept Pan Parag, Vikram settled with Rotomac Group.