CBI arrests Videocon CEO Venugopal Dhoot in ICICI loan fraud case
Videocon CEO Venugopal Dhoot arrest: Days after the arrest of former CEO and MD of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar, the Central Bureau of Investigation (CBI) on Monday arrested Videocon group founder Venugopal Dhoot in the ICICI Bank loan fraud case, as per information received.
Venugopal Dhoot Dhoot was arrested from Mumbai. Earlier, the CBI had named Chanda Kochhar, her husband Deepak Kochhar and Videocon group founder Venugopal 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 FIR registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act in 2019.
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As per the CBI, ICICI Bank had sanctioned credit facilities worth Rs 3,250 crore to companies of Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.
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Another allegation against Dhoot is that a part of the quid pro quo, the Videocon founder Dhoot made an investment of Rs 64 crore in Nupower Renewables through Supreme Energy Pvt Ltd (SEPL) and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012, reads the FIR.
- PTC NEWS
