New Delhi, Dec 26: In a major development over ICICI fraud case,the Central Bureau of Investigation (CBI) on Monday arrested Venugopal Dhoot, the Chairman Videocon group at Mumbai. As already, former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar were arrested in fraud issue, Dhoot was placed under arrest following the questioning of Kochhars.
The CBI produced the Videocon Group Chairman before a Special CBI court in Mumbai. The probe agency will seek his custodial remand to extract facts in the loan fraud case.
The ICICI Bank Ltd reportedly sanctioned credit facilities of about Rs 3,250 crore to Trend Electronics Ltd, Century Appliances Ltd, Kail Ltd, Value Industries Ltd and Evan Fraser & Co India Ltd, all companies belonging to Videocon Group promoted by Venugopal Dhoot. The top officials of ICICI Bank Ltd. sanctioned credit facilities to these companies in violation of Banking Regulation Act, RBI Guidelines and Credit Policy of the bank, report revealed.
There were allegations that Dhoot made an investment of Rs 64 crore in Nupower Renewables Ltd (NRL) through Supreme Energy Pvt. Ltd. (SEPL) and also transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route. It was done between 2010 and 2012.
The CBI team already arrested former ICICI Bank CEO and MD Chanda Kochhar along with her husband Deepak Kochhar on Saturday.
