The central agency Central Bureau of Investigation (CBI) is probing the alleged Loan fraud case that happen back in 2012. The amount involved in the alleged scam is said to be more than Rs 1700 crores. It is said that there are many irregularities involved in this.
As a big development in the case Venugopal Dhoot, chairman of the Videocon group was arrested by the investigating officers in connection with the case today. He was arrested in Mumbai. To check for irregularities the arrests were made and the accused will be grilled to get the information.
Venugopal Dhoot was arrested days after former ICICI Bank MD Chanda Kochhar and her husband Deepak Kochhar. The arrested people are accused of cheating the bank to the tune of over Rs 1700 crores.
The alleged scam hit the headlines when a few media houses carried out stories on the alleged irregularities in 2018. The scam became a topic of discussion among common people and even the concerned authorities stepped in to look into the matter.
The CBI filed a case in 2019 and the agency has been probing the matter since then. A few people and companies were under the scanner of the CBI for the past three years. After gathering the key evidence, the investigating agencies started making arrests in connection with the case.
In a short span, three arrests were made by the CBI in connection with the alleged scam. The big arrests in the case started with Chanda Kochhar and her husband Deepak Kochhar and Venugopal Dhoot joined the list. We can expect a few more arrests in the coming days in connection with the alleged scam.
It is said that there were many violations in the process of granting loans to the many private companies. Videocon group is also said to have received loans from the ICICI bank and the loan amount was transferred to other shell companies.
It is alleged that the Videocon Group took loans of thousands of crores from various banks and did not pay them. The loan amount was transferred to other banks which is a violation of the rules. The investigation is going on.
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