Big CBI Action In ICICI Bank Fraud Case, Videocon Chairman Venugopal Dhoot Arrested

ICICI Bank Fraud: CBI (Central Bureau Of Investigation) has taken major action in the ICICI ( Industrial Credit and Investment Corporation of India.) Bank loan fraud case. The CBI has arrested Videocon owner Venugopal Dhoot on Monday. Earlier, the CBI had arrested former CEO(Chief Executive Oficer) of the bank Chanda Kochar and her husband Deepak Kochhar in the ICICI Bank loan fraud case. Venugopal and Chanda Kochhar are accused of favoring each other.

On Saturday, the CBI produced Chanda Kochhar and Deepak Kochar in the court, after which the court sent Chanda Kochhar and her husband to CBI remand for three days. The CBI had alleged that Chanda Kochhar wrongly sanctioned loans to several Videocon companies. Also influenced other committees to approve the loan of Videocon. The probe agency also alleged that the couple kept evading questions and were not cooperating during questioning.

ICICI Bank Fraud:Serious allegations against Venugopal Dhoot in Videocon loan case

The loan was given by ICICI Bank to Videocon Group. In May 2020, the Enforcement Directorate questioned Chanda Kochhar and her husband Deepak Kochhar in connection with a loan of crores and related matters. In fact, ICICI Bank under the leadership of Chanda Kochhar gave a loan of 3,250 crores to Videocon Group, six months after this M/s Supreme Energy owned by Venugopal Dhoot gave a loan of 64 crores to M/s NuPower Renewables. Chanda Kochhar’s husband Deepak Kochhar has 50% stake in it.

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Arvind Gupta, a shareholder of ICICI Bank and Videocon, wrote a letter to the RBI (Reserve Bank of India), the Prime Minister and SEBI(Securities and Exchange Board of India), accusing Videocon Chairman Venugopal Dhoot and ICICI CEO and MD Chanda Kochhar of favoring each other. At the same time, in 2018, Chanda Kochhar resigned from the post of CEO and MD of ICICI Bank after the allegations against her.

According to the CBI, on August 26, 2009, the sanctioning committee of ICICI Bank, that included Chanda Kochhar, approved a loan of Rs 300 crore to VIEL “in contravention of the rules and policy”.

-Bharat Express