ICICI loan fraud case: CBI arrests Videocon founder Venugopal Dhoot
CBI arrests Videocon founder Venugopal Dhoot in ICICI loan fraud case.
Videocon Group founder Venugopal Dhoot was arrested by CBI officials on Monday in the ICICI Bank loan fraud case, stated the officials.
In the early morning hours of Monday, a brief questioning session was held with the 71-year-old Dhoot after which he was arrested in Mumbai.
Dhoot has been arrested hours after ICICI Bank's former CEO and MD Chanda Kochhar, along with her husband Deepak Kochhar were produced for a remand hearing in a Special Court.
The officials said that a charge sheet will be soon filed by the CBI against the Kochhars and Dhoot, along with other suspects. The three-day remand of Chanda and her husband, who was arrested on December 23, will get over on Monday.
ALSO READ| Ex-ICICI Bank CEO Chanda Kochhar, husband arrested by CBI in Videocon loan fraud case
Chanda and Deepak Kochhar were taken into custody by the CBI after it was alleged that the couple were not co-operating with the bureau's investigation and providing evasive replies.
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During the remand hearing at the CBI Special Court on December 24, the bureau said that Chanda denied having knowledge of pecuniary transactions between Dhoot and her husband.
Senior advocate Amit Desai, who appeared in the court to defend the Kochhars, opposed the need for remand, stating that the "main borrower of the loan has not been arrested, and the present accused was not the beneficiary of any amount”.
Desai also brought to the notice of the court a letter sent by the ICICI Bank to the CBI in July 202I which stated that the bank had no wrongful loss in any of the transactions highlighted by the bureau.
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Chanda and Deepak Kochhar, along with Dhoot and companies Supreme Energy, Videocon International Electronics Ltd, Nupower Renewables (NRL) managed by Deepak Kochhar and Videocon Industries Limited, have been named as accused by the CBI in the FIR filed under IPC sections of criminal conspiracy as well as provisions of the Prevention of Corruption Act in 2019, the officials stated.
The investigation bureau has alleged that credit facilities of Rs3,250 crore were sanctioned by the ICICI to the Videocon Group's companies promoted by Dhoot, which violated the bank's credit policy, RBI guidelines and the Banking Regulation Act.
It also alleged that an investment of Rs64 crore was made by Dhoot in Nupower Renewables through Supreme Energy Pvt Ltd (SEPL) and SEPL was transferred to Pinnacle Energy Trust, which Deepak Kochhar was managing between 2010 and 2012.
(With inputs from agencies)