HomeIndiaVideocon Chairman Venugopal Dhoot Arrested For Fraud

Videocon Chairman Venugopal Dhoot Arrested For Fraud

Videocon Chairman Venugopal Dhoot Arrested For Fraud

NEW DELHI, (IANS) – In the latest development in the loan fraud case involving former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar, the Central Bureau of Investigation (CBI) on December 26 arrested Venugopal Dhoot, Chairman of the Videocon group.

Dhoot was placed under arrest following the questioning of Kochhars. His arrest was made in Mumbai.

The CBI will produce him before a Special CBI court in Mumbai later in the day. The probe agency will seek his custodial remand.

“It was alleged that the ICICI Bank Ltd sanctioned credit facilities of about Rs 3,250 crore to Trend Electronics Ltd, Century Appliances Ltd, Kail Ltd, Value Industries Ltd and Evan Fraser & Co India Ltd, all companies belonging to Videocon Group promoted by Venugopal Dhoot.

“The officials of ICICI Bank Ltd. sanctioned credit facilities to these companies in violation of Banking Regulation Act, RBI Guidelines and Credit Policy of the bank,” read the FIR.

There were allegations that Dhoot made an investment of Rs 64 crore in Nupower Renewables Ltd through Supreme Energy Pvt. Ltd. and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route. It was done between 2010 and 2012.

The CBI arrested former ICICI Bank CEO and MD Chanda Kochhar along with her husband Deepak Kochhar on December 24.

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  • I have no sympathy for them. I opened an account with this bank, they really made my life miserable. The bank is completely devoid of any moral fiber.

    December 26, 2022

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