NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Mukesh Ambani
    WhatsApp
    Reliance Jio
    OPPO
    Vivo
    Sensex
    Bitcoin
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / ICICI bank fraud case: CBI arrests Videocon Chairman Venugopal Dhoot
    Business

    ICICI bank fraud case: CBI arrests Videocon Chairman Venugopal Dhoot

    ICICI bank fraud case: CBI arrests Videocon Chairman Venugopal Dhoot
    Written by Manzoor-ul-Hassan
    Dec 26, 2022, 01:12 pm 2 min read
    ICICI bank fraud case: CBI arrests Videocon Chairman Venugopal Dhoot
    Apart from CBI, the Enforcement Directorate is also investigating the ICICI Bank-Videocon loan case

    The Central Bureau of Investigation (CBI) on Monday arrested the chairperson of Videocon Group, Venugopal Dhoot, in the multicrore money laundering case involving the conglomerate and ICICI Bank, ANI reported. Former ICICI Bank CEO Chanda Kochhar and her husband, Deepak Kochhar, were also arrested by the CBI last week. The case pertains to alleged irregularities in the loan that Videocon got from ICICI Bank.

    Why does this story matter?

    • Despite the country's strict banking regulations, there are always some who manage to circumvent such laws. Similar efforts were allegedly made by Videocon and the Kochhars.
    • Kochhar reportedly began authorizing loans for Videocon left and right soon after she assumed control as ICICI Bank's MD-CEO in 2009.
    • Along with the CBI, the Enforcement Directorate (ED) is also investigating the case.

    What does the CBI FIR say?

    The CBI named the Kochhars, Dhoot, NuPower Renewables managed by Deepak Kochhar, Supreme Energy, Videocon International Electronics, and Videocon Industries in its 2019 FIR. It was registered under IPC sections pertaining to criminal conspiracy and the Prevention of Corruption Act. The CBI claimed ICICI Bank sanctioned Rs. 3,250cr-worth credit facilities to Videocon Group companies, violating its credit policy, RBI rules, and Banking Regulation Act.

    Illegal dealings between Kochhars and Videocon?

    The CBI is also looking into the alleged favors that Dhoot returned to the Kochhars in exchange for the loan, per reports. The FIR claims that between 2010-12, Dhoot invested Rs. 64 crore in NuPower Renewables, which is run by Deepak, through Supreme Energy Private Limited (SEPL). Later, he also reportedly transferred SEPL to Pinnacle Energy Trust, which is also controlled by Deepak.

    ED's case based on CBI's complaint

    The ED is also separately investigating the matter based on the CBI's FIR. The agency arrested Deepak in 2020 after filing a criminal case of money laundering against him. As part of its probe, the ED found that loans sanctioned by ICICI Bank under Kochhar's tenure were kept active through refinancing to the tune of Rs. 1,730cr, which subsequently became bad loans in 2017.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest
    ICICI Bank
    Enforcement Directorate (ED)
    Chanda Kochhar
    Venugopal Dhoot

    Latest

    Twitter's algorithm is now open-source; possibly biased toward Elon Musk Twitter
    Today's cryptocurrency prices: Check rates of Bitcoin, Ethereum, Dogecoin, Tether Cryptocurrency
    Assam: CM Sarma warns Kejriwal ahead of AAP rally Himanta Biswa Sarma
    National Garlic Month: Let April smell fresh with these recipes Food

    ICICI Bank

    ICICI bank fraud case: Videocon's Venugopal Dhoot gets interim bail Venugopal Dhoot
    HDFC Q3 results: Profit jumps 19% to Rs. 12,735 crore HDFC Bank
    ICICI-Videocon scam: Chanda Kochhar, husband Deepak Kochhar released from jail Chanda Kochhar
    Special CBI court sends Kochhars, Dhoot to 14-day judicial custody Central Bureau Of Investigation (CBI)

    Enforcement Directorate (ED)

    Sukesh Chandrasekhar pens love letter to Jacqueline Fernandez from jail Sukesh Chandrasekhar
    Delhi court adjourns Nora's defamation case against Jacqueline till May Bollywood
    Delhi: Manish Sisodia's bail plea hearing adjourned till April 5 Manish Sisodia
    Land-for-jobs scam: Tejashwi Yadav appears before CBI for questioning Tejashwi Yadav

    Chanda Kochhar

    ICICI-Videocon scam: Kochhars' arrest illegal, says Bombay HC; grants bail Central Bureau Of Investigation (CBI)
    CBI court allows Kochhar couple, Venugopal Dhoot use special beds Central Bureau Of Investigation (CBI)
    CBI accuses Chanda Kochhar and Venugopal Dhoot of not cooperating Venugopal Dhoot
    Videocon loan case: Ex-ICICI Bank CEO Chanda Kochhar, husband arrested Central Bureau Of Investigation (CBI)

    Venugopal Dhoot

    ICICI case: What Venugopal Dhoot told ED about Deepak Kochhar? Enforcement Directorate (ED)
    ED summons Chanda Kochhar, husband in Delhi in ICICI-Videocon case Chanda Kochhar
    Chanda Kochhar sacked by ICICI, will have to return bonuses ICICI Bank
    ICICI-Videocon case: CBI names Chanda Kochhar, her husband in FIR Central Bureau Of Investigation (CBI)

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023