The Central Bureau Investigation (CBI) on Monday arrested Videocon Group founder Venugopal Dhoot in the ICICI loan fraud case, from Mumbai in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies, officials said. On Friday, the CBI arrested former ICICI Bank MD and CEO Chanda Kochhar and her husband Deepak Kochhar for allegedly cheating the bank of Rs 1,730 crore until March 20.
The case is related to the alleged irregularities and corrupt practices in the sanction of a ₹1,875 crore loan disbursed by ICICI Bank to the Videocon Group during 2009 and 2011.
During its initial enquiry, the CBI found six loans worth ₹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.
However, The agency said that the loans were declared non-performing assets in 2012, causing a loss of ₹1,730 crore to the bank.
Earlier, the CBIon 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.
On Friday, The CBI arrested the couple in connection with the alleged ICICI Bank-Videocon money laundering case.
The CBI lawyer said that they have arrested accused number four and five, as per the First Investigation Report registered with them.
“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.