CBI arrests Videocon’s Venugopal Dhoot in loan fraud case

Mangalore Today News Network

New Delhi, Dec 26, 2022: The Central Bureau of Investigation (CBI) has arrested Videocon Group promoter Venugopal Dhoot in the ICICI loan fraud case. Earlier, former ICICI Bank CEO Chanda Kocchar and her husband were arrested by the CBI in the same case.

 

Dhoot was being probed by the CBI in connection with defrauding ICICI Bank allegedly with the help of Chanda Kochhar and her husband Deepak Kochhar.

Chanda Kocchar and her husband have been remanded to CBI custody till December 26. The case pertains to alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies.

The probe agency has alleged that ICICI Bank sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon promoted by Venugopal Dhoot in violation of the Banking Regulation Act, RBI guidelines and the credit policy of the bank.

The CBI, in 2019, named the Kochhar couple and Dhoot, along with companies Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited as accused in the First Information Report registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act.

According to the CBI, in 2009, a sanctioning committee of ICICI Bank headed by Chanda Kochhar sanctioned a term loan of Rs 300 crore to VIEL in contravention of rules and policies of the bank. The very next day, Dhoot transferred Rs 64 crore to NRL from VIEL through his company Supreme Energy Private Limited (SEPL), it said,

In "furtherance of a criminal conspiracy with other accused persons" Chanda Kochhar sanctioned various loans to Videocon Group, the CBI claimed.

Courtesy: India Today