ICICI Bank Money Laundering Case: CBI Arrests Videocon Chairman Venugopal Dhoot

New Delhi: The Central Bureau of Investigation (CBI) arrested Venugopal Dhoot, Chairman of Videocon group in connection with the ICICI money laundering case on Monday.

It was alleged that the ICICI Bank Ltd sanctioned credit facilities of about Rs 3,250 crore to Trend Electronics Ltd, Century Appliances Ltd, Kail Ltd, Value Industries Ltd and Evan Fraser & Co India Ltd, all companies belonging to Videocon Group promoted by Venugopal Dhoot.

It was alleged that Dhoot made an investment of Rs 64 crore in Nupower Renewables Ltd (NRL) through Supreme Energy Pvt. Ltd. (SEPL) and also transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route. It was done between 2010 and 2012.

Earlier, CBI arrested former ICICI Bank CEO and MD Chanda Kochhar and her husband in this connection.