New Delhi: Videocon owner Venugopal Dhoot has been arrested in connection with the ICICI Bank fraud case. He has been arrested by the CBI in Mumbai today.

Earlier, 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 three-day CBI remand till Monday.

It was expected that a charge sheet could soon be filed by the CBI in the Videocon loan case. The charge sheet also names Venugopal Dhoot of videocon group along with kochhar couple. Kochhar is accused of blindly distributing loans to Videocon Group promoter Venugopal Dhoot, in exchange for which crores of rupees were allegedly invested in NuPower.

The CBI has alleged that ICICI Bank sanctioned loan facilities worth 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 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 Rs 300 crore loan facility to Videocon International Electronics Limited (VIEL).

Leave a Reply