CBI charges Videocon's Venugopal Dhoot, bankers with 'criminal conspiracy'

Central Bureau of Investigation (CBI) enquiry has revealed that Videocon Industries Chairman Venugopal Dhoot, in collusion with officials of State Bank of India-led consortium, allegedly sanctioned credits of hundreds of millions of US dollars with an intent to cause “undue pecuniary gain” to the consumer durable firm. Dhoot has been earlier booked by the CBI in the Videocon-ICICI bank loan case. The present matter pertains to Mozambique-based oil block for which Videocon had taken credit facility from Standard Chartered Bank in London.

The repayment was done by the consortium against the oil block acquired by Videocon. The consortium, however, did