Videocon CEO arrested By CBI 2 days after ex-ICICI Bank CEO Chanda Kocchar, Deepak Kochhar
On Monday, in the latest development, the Central Bureau of Investigation (CBI) arrested Venugopal Dhoot, Chairman of Videocon Group in the loan fraud case involving former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar.
The CBI will produce him before a Special CBI Court in Mumbai later in the day. The probe agency will seek his custodial remand.
After the CBI questioned the Kochhars, Dhoot was placed under arrest. His arrest was made in Mumbai.
The FIR mentions, “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.”
There were allegations that Dhoot made an investment of Rs.64 crore in Nupower Renewables Ltd (NRL) through Supreme Energy Pvt. Ltd. (SEPL) and also transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route. It was done between 2010 and 2012.
Earlier, on Saturday the CBI arrested former ICICI Bank CEO and MD Chanda Kochhar along with her husband Deepak Kochhar.
[With Inputs from IANS]
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