After questioning for several days, the Central Bureau of Investigation (CBI) on Thursday evening formally arrested Rotomac Global Private limited owner and Industrialist Vikram Kothari and his son Rahul Kothari in connection with Rs 3,695-crore loan default case.
The CBI registered a case on a complaint of Bank of Baroda on February 18. The bank requested authorities to confiscate the passports of Kothari and his family members.
The agency arrested both father and son after they failed to explain the fraudulent transactions by them. “Both of them will be produced before a city on Friday,” said CBI spokesperson Abhishek Dayal.
The CBI had been questioning Kotharis for the past few days. They were brought to agency’s headquarters in New Delhi from Kanpur on Wednesday and questioned for the third consecutive day.