Venugopal Dhoot arrested by CBI in ICICI Videocon Loan Case

Days after former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar were arrested, the Central Bureau of Investigation (CBI) on December 26 arrested Videocon Group Promoter Venugopal Dhoot for alleged irregularities in a Rs 3250 crore loan that Videocon got from ICICI Bank in 2012.

Dhoot was arrested from Mumbai today early morning.

Videocon Group promoter has been arrested for alleged cheating, criminal conspiracy, and sections of the prevention of corruption act.

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CBI has alleged that between June 2009 and October 2011, ICICI sanctioned loans to the tune of Rs 3250 crores to Videocon Group Companies.

CBI claimed that loans were extended in violation of RBI, the banking act, and the credit policy of the ICICI bank.

Dhoot's arrest comes days after the federal investigative agency arrested Chanda Kochhar and her husband Deepak Kochhar in connection with the Rs 3,250 crore Videocon loan scam.

The central probe agency alleged cheating and irregularities in loans sanctioned by the bank to the Videocon group between 2009 and 2011 when Kochhar was heading the bank. This arrest is significant in the case after a prolonged probe over years. Earlier, the bank had terminated Kochhar as CEO denying the former executive retirement benefits.

The CBI had booked Chanda Kochhar, her husband, and Venugopal Dhoot of Videocon Group, along with companies Nupower Renewables, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited, as accused in the FIR registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act.