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Rotomac owner Vikram Kothari, son Rahul on remand, IT dept attached 12 more accounts

New Delhi, Feb 23: The Income Tax (IT) department has confiscated 12 more bank accounts of the Rotomac Group of companies, besides the 14 bank accounts attached earlier.

According to reliable sources from the Income Tax Department, about six prosecutions have been approved against the Rotomac Pens owner, Vikram Kothari.

Vikram Kothari and his son Rahul Kothari were sent to a one-day transit remand by Delhi's Patiala House Court on Friday regarding a case of loan default of approximately Rs 3,700 crore taken from seven public sector banks.

In connection with this case, both father and son were produced before the court by the CBI. 

The duo was arrested on February 22 and will be produced before the court in Lucknow tomorrow.

On February 22, the IT department had also slapped a show-cause notice against the Rotomac group.

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