CBI has arrested Videocon CEO Venugopal Dhoot in the Videocon Loan Case just days after it arrested ICICI Bank ex-CEO Chanda Kochhar and her husband.
In fresh updates in the Videocon loan case, the Central Bureau of Investigation (CBI) has arrested the Videocon CEO Venugopal Dhoot. Just a few days after CBI arrested ICICI Bank ex-CEO Chanda Kochhar and her husband Deepak Kochhar, now the CEO has been arrested from Mumbai, as per media reports.
As per a report in the Economic Times, the CBI has alleged that Deepak Kochhar was helped by a co-accused in getting the ownership of Nupower Renewables Ltd. (NRL). The income that was sourced through this entire transaction is also reportedly under scanner as per the charges, the Kochhars unduly benefited from this.
Over the weekend, it was reported that after a brief round of questioning by CBI, both Kochhars were arrested and even remanded to custody till December 26, 2022. While the case has been on since 2018-19, this is the first time that CBI has arrested both Chanda Kochhar and Deepak Kochhar over alleged charges.
The alleged loan fraud case involving all three parties and few more, is reportedly for an amount close to over Rs 3,000 crore. Moreover, it was issued to Videocon at a time when Chanda Kochhar was heading ICICI Bank. As per last updates, the loan has been seen as a violation of the Banking Regulation Act, RBI guidelines and the credit policy of the bank.
Disclaimer: This is a developing story. More updates will be added here once information is available.