Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like Videocon becoming the largest television set manufacturer in India.
The investments were a mix of issuance of guarantees ($2.53 billion), loan ($257.60 million) and of equity ($232.59 million).
A list of at least 20 individuals has been sent to the immigration department to prevent them from flying overseas.
FC Goa co-owners Srinivas Dempo and Dattaraj Salgaocar withdrew their stakes from the franchise, on Friday, surprisingly soon after the Indian Super League Appeals Panel lifted the ban on the duo for "bringing disrepute" to the tournament following last year's final.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
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