India federal police arrests Videocon chairman Dhoot in loan fraud case

Videocon Industries (India)

26/12/2022 07:06

MUMBAI, Dec 26 (Reuters) - India's federal investigating
agency has arrested Videocon Group  VEDI.NS  chairman Venugopal
Dhoot in connection with a loan fraud case involving ICICI Bank
 ICBK.NS , a source from the Central Bureau of Investigation
(CBI) told Reuters on Monday.
    The CBI did not immediately respond to request for comment.
    In early 2019, the CBI filed a case of criminal conspiracy
and fraud against Dhoot, former ICICI Bank Chief Executive
Chanda Kochhar and her husband Deepak Kochhar.
    The agency alleged that ICICI Bank, under Chanda Kochhar,
sanctioned 'high value' loans to Videocon, violating the bank's
lending policies, in exchange for an investment by the consumer
electronics company's owner in a business headed by Kochhar's
husband.
    The CBI arrested Chanda and Deepak Kochhar on Friday.
 (Reporting by Arpan Chaturvedi; writing by Sudipto Ganguly;
Editing by Savio D'Souza)
 ((sudipto.ganguly@thomsonreuters.com; +91 7738571441; Twitter:
@Sudipto_Reuters;))