Videocon CEO Venugopal Dhoot was arrested by the CBI for “loan fraud.”

The CBI arrested Videocon Group CEO and MD Venugopal Dhoot on Monday after arresting Chanda Kochhar, the former CEO and managing director of ICICI Bank, and her husband, Deepak Kochhar, in connection with credit facilities provided to the Videocon Group of companies, as per the CBI official report.

The CBI has filed a case alleging quid pro quo in the sanctioning of loans totaling 1,875 crore to the businesses owned by the Venugopal Dhoot-led Videocon Group.

Based on the CBI case, the Enforcement Directorate filed a case alleging that throughout the relevant period, loans to Videocon Group were approved in violation of ICICI Bank regulations and norms, which resulted in a loss to the bank.