Vikram Kothari, owner of Rotomac pens has denied the report that he has fled the country.
The Kanpur-based company’s owner had taken a loan of more than Rs. 800 crore from over five state-owned banks, including Allahabad Bank, Bank of India and Union Bank of India.
Local media report earlier suggested that Kothari had fled the country. However, later the promoter said speculation of his fleeing the country is baseless.
“I am a resident of Kanpur and I will stay in the city.
Read more: After PNB Fraud, Now Rotomac Pen Owner Flees After Taking Rs 800 Crore Loan
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However, I do have to travel to foreign countries for business purposes,” Kothari said.