INSUBCONTINENT EXCLUSIVE:
The Central Bureau of Investigation (CBI) on Monday arrested Videocon Group founder Venugopal Dhoot in connection with the ICICIBank loan
her husband Deepak Kochhar for alleged irregularities in financial transactions with the now-bankrupt conglomerate.
Dhoot was arrested
from Mumbai after a brief questioning session on Monday morning
the same date.
The CBI told the court it wanted to confront Dhoot with the Kochhars
The court noted that the investigation was in the initial stage in respect of a very serious offence, and in such cases, sufficient time was
required to be given to the investigating agency to interrogate the accused.
S S Ladda, lawyer for Dhoot, said they had cooperated with
the CBI on every summons issued in the past three years
The agency had taken into custody the Kochhars, alleging that they were not cooperating with the investigation and were giving evasive
replies.: From industry icon to defaulter: How Venugopal Dhoot lost his empire
In 2016, a whistle-blower had sought an inquiry into the
It was alleged that a company related to Dhoot invested Rs 64 crore in NuPower in 2010 and later the proprietorship was transferred to a
trust owned by Deepak Kochhar for Rs 9 lakh after Videocon received a loan of Rs 3,250 crore from ICICI Bank in 2012.
In 2019, the CBI
lodged an FIR against Dhoot, the Kochhars, and the companies including NuPower and Videocon Industries for allegedly cheating ICICI Bank of
Rs 1,730 crore under provisions of the Indian Penal Code and the Prevention of Corruption Act
Loans to Videocon were classified as non-performing assets in 2017.
During the preliminary enquiry, the investigative agency found that
policies.
Following the allegations, Kochhar had gone on indefinite leave and later stepped down from the post of CEO - MD in 2018
Sandeep Bakhshi replaced Kochhar as CEO - MD of the private sector bank.
