Vikram Kothari gets bail

Lucknow, January 12: Rotomac chairman Vikram Kothari who was in jail got the eight-week bail from the Allahabad High Court with certain conditions on Friday.

The bail was provided by the bench of Justice A.R. Masoodi in the view of his frail health of the Kanpur-based businessman, who has been accused of fraud and defaulting on loan repayment worth millions. According to information Kothari needs "a surgical procedure".

However, the court has set the conditions to depositing the passport and providing his location details, the court also stated him to surrender after eight weeks and asked to submit an affidavit to this effect. His bail application was rejected by the court on November 30 of last year.

A senior Bank of Baroda official had on February 18, 2018 filed a complaint with the Central Bureau of Investigation against Vikram Kothari, his wife Sadhna Kothari and son Sadhna Kothari for defrauding them and of hatching a criminal conspiracy to fool banks like the Oriental Bank of Commerce, Bank of Baroda, Allahabad Bank, Bank of India, Bank of Maharashtra, Union Bank of India and Indian Overseas Bank.

Rahul Kothari was granted bail on November 30