NEW DELHI: The central bureau of investigation (CBI) has arrested the chairman of Videocon group – Venugopal Dhoot – in connection with the ICICI bank fraud case.
The arrest of Venugopal Dhoot, the chairman of Videocon group, came just two days after the CBI arrested former CEO and managing director of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar.
Ready for a challenge? Click here to take our quiz and show off your knowledge!
Chanda Kochhar, during her tenure as the CEO and MD of ICICI bank from 2009 to 2018, had allegedly illegally sanctioned loans to the Videocon group of companies.
The ICICI Bank loans of Rs 1,875 crore to the Videocon group companies became non-performing assets in 2017.
It caused loss to the bank, according to the CBI.
Ready for a challenge? Click here to take our quiz and show off your knowledge!
It was also alleged that as a part of the quid pro quo, Dhoot made an investment of Rs 64 crore in Nupower Renewables through Supreme Energy Pvt Ltd (SEPL) and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012.
(More details awaited)