CBI books Videocon’s Venugopal Dhoot in corruption case
The Central Bureau of Investigation (CBI) has booked Videocon Industries Ltd chairman Venugopal Dhoot in a corruption case for allegedly duping a consortium of banks, led by the State of Bank of India, of hundreds of millions of US dollars. Along with Dhoot, who has been booked under charges of corruption, cheating and criminal conspiracy, the CBI has also booked unknown officials of the consortium of banks.
The case is related to an oil block in Mozambique where Videocon had interests, and it had taken a loan from Standard Chartered Bank (SCB) in London. This loan was repaid by the consortium led by SBI against the Mozambique assets, but the consortium did not take charge of the assets and Videocon continued to avail of credit facility from SCB on the block.
