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Videocon chairman Venugopal Dhoot arrested in ICICI Bank fraud case



Venugopal Dhoot

Videocon owner Venugopal Dhoot has been arrested in connection with the ICICI Bank fraud case. It is being told that he has been arrested by the CBI in Mumbai. Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar, arrested in connection with the Videocon loan case, were produced before a special CBI court on Saturday. The court had sent Chanda Kochhar and Deepak Kochhar to CBI remand for 3 days i.e. till Monday.

It was expected that the CBI may soon file a charge sheet in the Videocon loan case. The charge sheet also names Venugopal Dhoot of videocon group along with the Kochhar couple. Kochhar is accused of disbursing loans to Videocon Group promoter Venugopal Dhoot for allegedly investing crores of rupees in NuPower.

The CBI has alleged that ICICI Bank sanctioned a loan facility of Rs 3,250 crore to the Videocon group companies promoted by Venugopal Dhoot in violation of the Banking Regulation Act, RBI guidelines and the bank’s lending policy. During the custody hearing of Chanda Kochhar and Deepak Kochhar, special public prosecutor A Limousine, appearing for the CBI, argued that Chanda Kochhar had also committed “criminal breach of trust” under Section 409 of the IPC by approving a loan facility of Rs 300 crore to Videocon International Electronics Limited.

In 2019, the CBI had named Kochhar’s husband Deepak Kochhar as accused in an FIR registered against The Kochhar along with companies like NuPower Renewables, Supreme Energy, Videocon International Electronics Limited and Videocon Industries Ltd.

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