March 27, 2024

Multi-core loan default accused and promoter of Group Vikram Kothari died in a freak accident at his Kanpur residence on Tuesday morning.

According to reports, Kothari sustained grievous head injuries after slipping in his bathroom and later died. He was said to be alone in his palatial Tilak Nagar house at the time of the incident.

Kothari, also known as ‘Pen King’, was accused in the bank loan scam worth thousands of crores pertaining to Global Private Limited, which exported writing instruments to a number of countries.

He shot to fame in the 90s with the launch of his company and quickly captured a major share of the domestic market, while spreading operations to nearly 38 offshore destinations as well.

Rotomac had roped in popular Bollywood stars Salman Khan and Raveena Tandon as brand ambassadors of its range of products.

In 1973, Vikram’s father, the late Mansukh Bhai Kothari, had started the famous Pan Parag gutkha company, which soon became a household name in India owing to aggressive marketing and publicity.

However, following a family business split after the death of Mansukh Kothari, the gutkha and the pen companies went to his two sons Deepak and Vikram respectively.

However, Vikram soon turned around his pen company, claiming widespread acclaim in the domestic business circuit.

Meanwhile, Vikram Kothari had to spend nearly two…

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