Venugopal Dhoot arrested: The Central Bureau of Investigation (CBI) on Monday (December 26) arrested Videocon Group Chairman Venugopal Dhoot in the ICICI Bank loan case. the central agency had Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar have been arrested Last week on Friday. Chanda Kochhar had resigned from the top post in 2018.
Later both were sent to CBI custody till 26 December.
The CBI has alleged that ICICI Bank sanctioned credit facilities of Rs 3,250 crore to Videocon group companies promoted by Venugopal Dhoot in violation of the Banking Regulation Act, RBI guidelines and the bank’s credit policy.
During Kochhar’s remand hearing, the probe agency, represented by Special Public Prosecutor A Limousin, argued that Chanda Kochhar had also committed ‘criminal breach of trust’ under section 409 of the IPC by sanctioning a credit facility of Rs 300 crore to Videocon International Electronics. Did. Ltd. (VIEL).
Later, she allegedly diverted Rs 64 crore received from Videocon Group Managing Director VN Dhoot for her own use by investing it in her husband’s company NuPower Renewables Limited.
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In 2019, the CBI named the Kochhars and Dhoot along with companies Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Ltd in a First Information Report registered under sections of the IPC. Criminal conspiracy and provisions of the Prevention of Corruption Act.
According to the CBI, in 2009, a sanctioning committee of ICICI Bank headed by Chanda Kochhar sanctioned a term loan of Rs 300 crore to VIEL in violation of the bank’s rules and policies.
(With inputs from PTI)