On Monday, CBI arrested Videocon group founder Venugopal Dhoot in connection with the ICICI Bank loan fraud case. Earlier, Deepak Kochhar and Chanda Kochhar were also arrested in the same case.
71-year-old Venugopal Dhoot was arrested from Mumbai, nearly 3 days after former CEO and MD of the ICICI Bank Chanda Kochhar and Deepak were taken into custody by CBI officials.
The official said that Central Bureau of Investigation – CBI had named the Kochhars and Dhoot, along with companies Nupower Renewables managed by the Deepak Kochhar, Supreme Energy, Videocon International Electronics Ltd, and Videocon Industries Limited, as accused in FIR registered under IPC sections related to criminal conspiracy and provisions of Prevention of Corruption Act in 2019.
CBI alleged that ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 cr to the companies of Videocon Group promoted by Venugopal Dhoot in violation of Banking Regulation Act, RBI guidelines, and credit policy of bank.
Kochhar couple are being interrogated by CBI officials after being presented in a Mumbai court.
Venugopal Dhoot invested Rs 64 cr in NuPower Renewables, as a part of the quid pro quo, months after the Videocon group was granted loan by bank in between 2010 and 2012.
CBI revealed that 6 loans worth Rs 1,879 cr were sanctioned to Videocon and other private companies between June 2009 and October 2011. In 2012, these loans were declared non-performing assets in the year 2012 which caused a loss of Rs 1,730 cr to ICICI.