Venugopal Dhoot of Videocon Group was arrested by CBI in connection to a matter related to loans from ICICI Bank. Earlier, former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar, were also arrested in the same case.
The 71-year-old Dhoot was arrested from Mumbai, nearly three days after former CEO and MD of the ICICI Bank Chanda Kochhar and her husband Deepak Kochhar were taken into custody by the CBI. Sources told News18 that Dhoot has offered to turn an approver in the case.
Sources say Videocon Group’s Venugopal Dhoot has offered to turn an approver in #ICICIBankLoan case, reports @Santia_Gora#ICICIVideocon #VenugopalDhoot pic.twitter.com/5LwhCpic2V— CNBC-TV18 (@CNBCTV18Live) December 26, 2022
The CBI had named the Kochhars and Dhoot, along with companies Nupower Renewables (NRL) managed by Deepak Kochhar, 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 in 2019, they said.
The CBI had alleged that ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.
It was also alleged that as a part of the quid pro quo, Dhoot made an investment of Rs 64 crore in Nupower Renewables through Supreme Energy Pvt Ltd (SEPL) and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012, the FIR has alleged.
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