After the arrest of former ICICI Bank’s chief executive officer and managing director, Chanda Kochhar, and her husband, Deepak Kochhar, in a case related to the credit facilities extended to the Videocon Group of companies, the CBI on Monday arrested Videocon Group promoter Venugopal Dhoot, a CBI official said.
The CBI had registered the case in January 2019, alleging quid pro quo in sanctioning loans of ₹1,875 crore to the companies of Videocon Group, headed by Venugopal Dhoot.
Based on the CBI case, the Enforcement Directorate had filed a case pertaining to causing loss to ICICI Bank by sanctioning loans to Videocon Group in contravention of the rules and policies of ICICI Bank during the relevant period. These loans had turned non-performing assets and thus resulted in wrongful loss to ICICI Bank and wrongful gain to the borrowers and accused persons, the FIR had said.
The ED alleged that Ms. Kochhar and her family acquired a Mumbai flat, which was also attached, at a nominal rate by taking over a Videocon Group entity through a trust.
As a quid pro quo, Mr. Dhoot also allegedly invested in NRL via Supreme Energy Private Limited (SEPL), which was later transferred to Pinnacle Energy Trust, purportedly controlled by Mr. Kochhar.