ICICI-Videocon Loan Case: I-T dept questions Venugopal Dhoot

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The Income Tax Department yesterday questioned Videocon group promoter Venugopal Dhoot in connection with its tax evasion probe linked to the Videocon-ICICI bank loan case, officials said.

They said Dhoot appeared before the designated probe officer at the I-T department office in Mumbai after he was issued summons to join the investigation. He was questioned for about four hours, they said. The case pertains to a possible and alleged tax evasion angle in the ICICI bank issuing a Rs 3,250 crore loan to the Videocon Group in 2012.

The department had earlier questioned Deepak Kochhar, husband of ICICI bank MD and CEO Chanda Kochhar, in the case. Last week, it had also conducted searches at multiple locations linked to Nishant Kanodia, son-in-law of Essar group co-founder Ravi Ruia, in this case to probe the flow of funds through his Mauritius-based company into the firm of Deepak Kochhar.

The I-T department is investigating the flow of about Rs 325 crore from two Mauritius-based firms - First Land Holding Limited and DH Renewables Holding Limited - to Kochhar's company NuPower Renewables Private Ltd.

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