CBI detains Videocon Chairman Venugopal Dhoot in a loan scam investigation

by Subhechcha Ganguly
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The Central Bureau of Investigation (CBI) detained Venugopal Dhoot, Chairman of the Videocon group, on Monday as part of the most recent development in the loan fraud case involving former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar. Following the interrogation of Kochhars, Dhoot was arrested. In Mumbai, he was taken into custody. Later on in the day, the CBI would present him before a Mumbai Special CBI court. The investigation team will ask for his incarceration.

“It was alleged that the ICICI Bank Ltd. approved credit facilities totaling about Rs 3,250 crore for Trend Electronics Ltd., Century Appliances Ltd., Kail Ltd., Value Industries Ltd., and Evan Fraser & Co. India Ltd., all of which are part of the Videocon Group promoted by Venugopal Dhoot. “There have been claims that Dhoot invested Rs 64 crore in Nupower Renewables Ltd (NRL) through Supreme Energy Pvt. Ltd. (SEPL) and then transferred SEPL to the Deepak Kochhar-managed Pinnacle Energy Trust. Between 2010 and 2012, it was finished. Chanda Kochhar and her husband Deepak Kochhar were both taken into custody by the Central Bureau of Investigation (CBI) on Saturday.

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