Videocon Group Chairman Venugopal Dhoot was arrested in connection with the ICICI Bank loan fraud case on Monday morning. The arrest came three days after former ICICI Bank Managing Director Chanda Kochhar and her husband Deepak Kochhar were arrested for allegedly causing wrongful loss of R1,730 crore to the bank. The probe has revealed that Dhoot had bribed Kochhar to secure a loan from the bank. Dhoot was produced before a special court and has been remanded in Central Bureau of Investigation’s custody for three days.
 
The CBI claimed that Dhoot, who was questioned multiple times, had evaded various summons. As per CBI’s remand application, a bank committee headed by Kochhar sanctioned a term loan of Rs 300 crore to Videocon International Electronics Limited (VIEL) on August 26, 2009 in contravention of rules and policies of the bank “in criminal conspiracies with the co-accused person dishonestly by abusing her official position as public servant.” “The loan was disbursed on September 7, 2009. The very next day, Dhoot transferred Rs 64 crore to Nupower Renewables Ltd, managed by Deepak Kochhar,” the CBI said.