The CBI on Monday arrested Videocon Group Chairman Venugopal Dhoot in the ICICI loan fraud case as reported by news agency ANI. The 71-year-old Dhoot was arrested from Mumbai, nearly three days after former CEO and MD of the ICICI Bank Chanda Kochhar and her husband Deepak Kochhar were taken into custody by the CBI, they said. ICICI loan fraud case: CBI arrests Videocon Group Chairman Venugopal Dhoot
The case is related to the alleged irregularities and corrupt practices in the sanction of a Rs.1,875 crore loan disbursed by ICICI Bank to the Videocon Group during 2009 and 2011.During its preliminary enquiry, the CBI found six loans worth Rs.1,875 crore were sanctioned to the Videocon Group and companies associated with it between June 2009 and October 2011 in an alleged violation of laid-down policies of ICICI Bank, which are part of the probe.
The agency has said that the loans were declared non-performing assets in 2012, causing a loss of Rs.1,730 crore to the bank. Earlier, the Central Bureau of Investigation (CBI) on Saturday got a three-day remand of former Managing Director and Chief Executive Officer of the ICICI bank Chanda Kochhar and her husband Deepak Kochhar.
The CBI arrested the couple on Friday in connection with the alleged ICICI Bank-Videocon money laundering case. The CBI lawyer in the court said that they have arrested accused number four and five, as per the First Investigation Report registered with them.
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“Accused 4 was MD and CEO of ICICI in 2009 and the fifth one is her husband,” the lawyer said.He said that after Chanda Kochhar became the MD and CEO of the bank, six loans were sanctioned to Videocon and its subsidiary companies and Chanda was a part of the committees that sanctioned two of the loans.
“The loan amount of Rs.1,800 crore has been given to the company,” the CBI lawyer added mentioning that another loan of amount ₹300 crore was given to a company whose part was Deepak Kochhar.
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