CBI books Videocon chief for ‘corruption’

New Delhi: The CBI on Tuesday booked Videocon group chairman Venugopal Dhoot for alleged corruption in the financing of their oil and gas assets in Mozambique in connivance with unidentified officials of a State Bank of India-led consortium, officials said.
The agency filed the FIR after an enquiry on a complaint from the oil ministry. Dhoot did not offer any comment.
The enquiry findings show that in 2008 Videocon Hydrocarbons Holding Ltd (VHHL), a subsidiary of the Videocon Industries Limited (VIL), acquired 10% “participating interest” in Oil and Gas Block in Rovuma Area 1 block, Mozambique, from the US-based Anadarko. In April, 2012, a consortium of banks led by the SBI sanctioned Standby Letter of Credit facility of $2,773.60 million to VHHL.
The consortium allegedly approved the increased amount without any verification or inquiry, the CBI said