Delhi court notices against Videocon Group founder Dhoot, 12 others in bank fraud case: ED
New Delhi (PTI): The ED on Monday said a Delhi court has issued notices to Videocon Group promoter Venugopal Dhoot and a dozen other entities after taking cognisance of its chargesheet filed in connection with an alleged Rs 61,700-crore bank loan fraud linked to financing the company's oil and gas assets in Mozambique.
The prosecution complaint (chargesheet) was filed on December 18, 2024 and the special Prevention of Money Laundering Act (PMLA) court located at Rouse Avenue took cognisance on February 10, the Enforcement Directorate said in a statement.
The court has taken cognizance of the offence of money laundering and has issued notices against the 13 accused, it said.
The Videocon Group could not be contacted immediately for comments.
The accounts of Videocon Industries Ltd (VIL) and its group companies turned NPA (non-performing assets) in 2018 and the banks had filed a total claim of Rs 61,773.02 crore including the NPA of Rs 23,647.12 crore in respect of SBLC (stand by letter of credit) facility, said the ED.
The agency has quantified the "proceeds of crime" in this case at Rs 1,136.49 crore.
The money laundering case stems from a June 2020 FIR of the CBI.
According to the ED, probe found foreign currency loan facilities availed by the Videocon Group-- the SBLC facility sanctioned by the SBI-led consortium, the Jupiter facility and the Standard Chartered Bank (SCB) facility-- were systematically "diverted" from their sanctioned purposes, which were stated to be development and refinancing of overseas oil and gas assets (in the African country Mozambique).
"The diversion of funds was carried out under the overall control and direction of the promoters of the Videocon Group, with the active involvement of overseas group entities and intermediaries," the agency alleged.
The loan proceeds were allegedly routed through Videocon Hydrocarbon Holdings Ltd (VHHL) and its overseas oil and gas subsidiaries after which the funds were "layered" through a complex web of overseas Videocon Group companies engaged in activities unrelated to oil and gas operations, it said.
These entities included Jupitor Corporation, Venus Corporation, Eagle Corporation, Paramount Global, Quadrant Corporation, Sky Billion Trading and TGDC Guangdong Display Co. Ltd.
These funds were routed back to India and utilised for purposes "wholly unconnected" with the sanctioned objectives, including meeting expenses of non-oil businesses, making investments, and creation of personal and corporate assets, the ED claimed.
The agency found that a "substantial" portion of the diverted funds was "layered" back into India through the books and bank accounts of VIL and its Indian group companies.
"Investigation found that out of the total facility of USD 4.54 billion, USD 2.02 billion has been diverted by the promoters of Videocon Group for non-intended purposes," the agency claimed.
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Delhi: Father, son held for killing 19-year-old woman in suspected honour killing
New Delhi (PTI): The Delhi Police has arrested a man and his son for allegedly murdering his 19-year-old daughter in west Delhi's Hari Nagar area, an official said on Friday.
The case first came to light on April 1 after a PCR call was received around 2 pm, alleging that a woman had been killed by her family members and her body was being taken for last rites, he said.
The accused, identified as Mohammad Maneer (55), a vegetable vendor, and his son Meraj Ali (19), were arrested in connection with the case, the officer said.
The victim had been in a relationship with a man from her native place for the past two years, which was opposed by her father, Maneer and brother Meraj, he said.
"When the girl did not end the relationship despite objections, the family killed her," the officer said.
On April 1, the police said that when their team reached the spot, they found that the woman's body was being taken for burial.
Acting on the input, the burial process was stopped over suspicion of honour killing.
"Police intercepted the family members and took possession of the body," he said.
Police said that the man who had made the PCR told them that the woman was in love with his cousin.
During the inquiry, police also interacted with the PCR caller, who said his cousin, a friend of the deceased, had informed him about the situation and suspected foul play, prompting him to alert the police control room.
The body of the woman was subsequently shifted to the mortuary of Deen Dayal Upadhyay Hospital for preservation and postmortem.
Police said that both the crime team and the forensic science laboratory (FSL) team were called to inspect the scene and collect evidence.
Police said that, as per the postmortem report, the cause of death was identified as smothering, indicating that the woman was suffocated.
A preliminary inquiry also revealed that the family had initiated preparations for the last rites soon after the woman's death, raising suspicion about the circumstances.
Initial investigation pointed to the family's opposition to the woman's relationship.
"The family members of the woman saw her with the man, and she was taken back home. We got to know that she was beaten up and even locked inside the house for some days," a source said.
Further investigation into the matter is underway, police added.
