Venugopal Dhoot Founder Chairman Videocon Group arrested in ICICI Bank fraud loan case
Venugopal Dhoot Founder Chairman Videocon Group arrested in ICICI Bank fraud loan case
After the arrest of ICICI ex-MD and CEO Chanda Kochhar and her husband Deepak Kochhar in the money laundering case, now in a dramatic turn of development to the money laundering case, the CBI has nailed and arrested the Videocon Founder and Chairman Venugopal Dhoot in the ICICI bank fraud case
As per CBI allegations, ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group ably promoted by Venugopal Dhoot in gross breach of trust of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.
The FIR alleges that as a part of the quid pro quo, Venugopal invested Rs 64 crore into Nupower Renewables via Supreme Energy Pvt Ltd (SEPL) and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012.
Earlier, the The CBI had booked Chanda Kochhar, Deepak Kochhar, her husband and Venugopal Dhoot of Videocon Group, along with companies Nupower Renewables, 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.
CBI also claims that in 2009,
ICICI’s sanctioning committee headed by Chanda Kochhar sanctioned a term loan of
Rs 300 crore to VIEL in gross breach of trust of rules and policies of the bank.
Reportedly, Venugopal Dhoot the very next day, transferred
Rs 64 crore to NRL from VIEL through his company Supreme Energy Private Limited (SEPL), concluding that in furtherance of a criminal conspiracy with other accused persons” Chanda Kochhar sanctioned various loans to Videocon Group.
Chanda Kochhar and Deepak Kochhar are cooling their heels in CBI custody.
News Input K.V.Raman
