After CBI, ED likely to register case against Videocon Chairman Venugopal Dhoot
By : Legal Era
Update: 2020-06-24 12:25 GMT
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A day after the Central Bureau of Investigation (CBI) booked Videocon Industries Limited (VIL) Chairman Venugopal Dhoot and others for alleged irregularities in the acquisition of oil and gas assets in Mozambique and causing loss to a consortium of banks led by the SBI, the Enforcement Directorate is set to take over the probe and could register a case in the coming week.ED sources said that...
A day after the Central Bureau of Investigation (CBI) booked Videocon Industries Limited (VIL) Chairman Venugopal Dhoot and others for alleged irregularities in the acquisition of oil and gas assets in Mozambique and causing loss to a consortium of banks led by the SBI, the Enforcement Directorate is set to take over the probe and could register a case in the coming week.
ED sources said that the financial probe agency will first study the documents pertaining to the alleged corruption by Dhoot and others and then register the case.
The agency is already probing Dhoot in a money laundering case pertaining to the sanction of Rs 1,875 crore in loans by the ICICI Bank.
The ED had filed the money laundering case last year against Dhoot on the basis of a complaint registered by the CBI, which had named Dhoot, his companies (Videocon International Electronics Ltd, and Videocon Industries Ltd), as well as former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar. The ED had questioned Dhoot in December 2019 in Mumbai in connection with the case.
On June 23, the CBI had booked Dhoot and others for “irregularities” in the acquisition of oil and gas assets in African country Mozambique. According to CBI officials, the oil and gas assets were later taken over by the State Bank of India.
The CBI said that a case has been registered against Dhoot, and unknown officials for alleged undue pecuniary gains to Videocon Industries Ltd.