The CBI has arrested Videocon institution’s Venugopal Dhoot in the ICICI financial institution fraud case, days after former dealing with director (MD) and chief executive officer (CEO) of the financial institution – Chanda Kochhar – and her husband Deepak Kochhar were arrested. The couple was later remanded to the CBI custody until Monday.
As per the accusations towards Kochhar, she misused her position inside the ICICI financial institution and granted loans to Videocon institution promoter Venugopal Dhoot in 2009 and 2011. The CBI had filed a criminal conspiracy case towards in opposition to Kochhar, her husband and Venugopal Dhoot of the Videocon organization.
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Dhoot was accused of making an investment in crores for Nupower Renewables after he got the mortgage. The loans have been later declared as non-performing assets in 2012.
The Enforcement Directorate – which probes financial crimes – is likewise involved in the probe. closing month, the ED had wondered Dhoot over the matter. The enterprise has also in advance quizzed Mahesh Pungalia, a director of NuPower Renewables and a near aide of Dhoot, inside the case.
The ED had filed a case against Dhoot, Kochhar and her husband Deepak in February 2019. Searches have additionally been carried out at their residences within the past.
Amid intensifying investigation, Kochhar needed to step down from her position inside the ICICI financial institution in 2018 due to this multi-crore fraud case. She had denied all of the expenses against her and her husband.
In November, the Bombay excessive courtroom had termed the motion taken with the aid of ICICI bank in opposition to Chanda Kochhar as valid and refused to grant interim remedy to her in her in shape in opposition to the financial institution.
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At the same time as Kochhar had sought an honoring of the commitments and contractual duties made through the bank when she retired on October 4, 2018, the financial institution sought a claw-returned of bonuses and revocation of retirement perks.
