CBI arrests Videocon chairman Venugopal Dhoot in ICICI financial institution fraud case
NEW DELHI: The central bureau of investigation (CBI) has arrested the chairman of Videocon group – Venugopal Dhoot – in reference to the ICICI financial institution fraud case.
The arrest of Venugopal Dhoot, the chairman of Videocon group, got here simply two days after the CBI arrested former CEO and managing director of ICICI Financial institution Chanda Kochhar and her husband Deepak Kochhar.
Chanda Kochhar, throughout her tenure because the CEO and MD of ICICI financial institution from 2009 to 2018, had allegedly illegally sanctioned loans to the Videocon group of firms.
The ICICI Financial institution loans of Rs 1,875 crore to the Videocon group firms grew to become non-performing belongings in 2017.
It triggered loss to the financial institution, in response to the CBI.
It was additionally alleged that as part of the quid professional quo, Dhoot made an funding of Rs 64 crore in Nupower Renewables by way of Supreme Power Pvt Ltd (SEPL) and transferred SEPL to Pinnacle Power Belief managed by Deepak Kochhar by way of a circuitous route between 2010 and 2012.
(Extra particulars awaited)