Chanda Kochhar Money Trail-V: Videocon’s Dhoot complicit in Rs 64 cr payout to Kochhar

TIL Desk/Business/New Delhi/ Twice over the course of the ongoing all-encompassing multi-disciplinary Chanda Kochhar-Videocon Industries probe has chairman Venugopal Dhoot accepted complicity in the dirty deal.

Dhoot reported to the CBI vide letter dated 25.4.2018 that “With reference to the captioned preliminary enquiry, I hereby submit that in my capacity as CMD of Videocon Industries, I have been entrusted with substantial powers of management inter alia including the authority to make investments/extend loans, advances etc, accordingly, Rs 64 crore given by the company to Supreme Energy Pvt Ltd is within the powers entrusted upon me.”

This was disclosed by Dhoot during the inspection of Videocon during his statement under oath and through letter dated 15/11/2018. On 12.6.2018 a missive sent by VIL to SEBI states: “This was a decision in terms of authority as the matter is very old, we are checking whether there was any contract to this effect. Further in the next para, it is stated that no approval of audit committee was taken on the date of advance as there was omission on the part of Venugopal Dhoot to disclose the interest in the entity.”

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