Categories: Business

CBI case against Videocon chairman venugopal dhoot

Photo: PTI

Videocon chairman venugopal dhoot

new Delhi. The CBI has registered a case against Videocon chairman Venugopal Dhoot for damaging banks. According to the agency, there have been irregularities in the purchase of African oil gas assets by the company, which has caused losses to the consortium of banks, in this consortium, State Bank of India is the lead bank.

According to the agency, in 2008, VHHL, a subsidiary of Videocon Industries, bought a stake in Mozambique's oil gas block. Which was later taken over by the consortium of banks. According to the agency, banks paid far more than the sale deed during the purchase. At the same time it took more than 8 months to take possession. This has caused a lot of loss to banks. The block was later acquired by ONGC Videsh Limited and Oil India in January 2014.

According to the CBI, at the first sight, a case has been registered on the indication of fraud, and investigations are on in the case. Along with this, a case has also been registered against bank officials (SBI, IDBI and ICICI Bank) with unknown officials of Petroleum Ministry, ONGC Videsh, Oil India, BPCL subsidiaries. Dhoot is also being investigated in the ICICI Bank case on allegations of money laundering and irregularities. CBI and ED have registered a case in this case.

This post was published on June 24, 2020 1:42 am

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