New Delhi: The Enforcement Directorate on
Tuesday questioned Videocon's CMD Venugopal Dhoot for over five hours
in connection with its money laundering probe in the Rs 1,875-crore
Videocon-ICICI loan case.
A senior ED official told IANS: "Yes,
Dhoot was asked to appear before the agency. We questioned him under the
sections of the Prevention of Money Laundering Act."
The official said that Dhoot arrived at the financial probe agency's office in south Delhi's Khan Market office in the evening.
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.
The ED has got clues about
an illegal transaction running into crores of rupees routed to NuPower, a
company run by Deepak Kochhar, husband of then ICICI Bank CEO and
Managing Director Chanda Kochhar. The financial probe agency had, this
May, questioned the Kochhars on many occasions in Mumbai. It had also
questioned Dhoot earlier in connection with the case in June and in
In March, the ED had conducted searches at the residence
and office premises of the Kochhars and questioned them along with
Dhoot, who had allegedly invested in NuPower through his firm Supreme
Energy as quid pro quo for loans cleared by the ICICI Bank under Chanda
Of the Rs 40,000 crore loan to the Videocon group, Rs
3,250 crore was given by ICICI Bank. A large portion of the loan by
ICICI was unpaid at the end of 2017 and the bank proceeded to declare
the Rs 2,810 crore of it as non-performing assets (NPA).
started the probe after registering a criminal case under the PMLA in
February against the Kochhars, Dhoot and others, following the FIR by
the Central Bureau of Investigation.