Venugopal dhoot biography for kids
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He was also listed in the top 50 list of Top 50 power list of 2009 being 36th in list.
In 2015, he was considered as the 61st richest person of India. This endeavor included a strategic collaboration with the renowned Japanese company Toshiba, setting Videocon on a trajectory of rapid growth.
Expansion and Market Dominance
During the 1990s, Videocon expanded its product lineup beyond televisions to include refrigerators, washing machines, air conditioners, home entertainment systems, and various small appliances.
The couple has a son, Anirudh Dhoot, a director at Videocon, and two daughters, Surabhi and Tanushri Dhoot.
Religion
He practices Hinduism and is known to visit Tirupati and Pandharpur temples annually.
Signature/Autograph
Career
Videocon Group
While his father founded the Videocon Group in 1984, aiming for 100,000 TV sets annually by 1985, Venugopal Dhoot played a pivotal role in its growth.
In 1986, he founded Videocon International with ambitious plans to manufacture 100,000 TV sets annually. However, unable to sustain operations, Videocon eventually sold these licenses to market leader Bharti Airtel and ceased its telecom ventures.
Impact of Global Competition
During the late 1990s, the entry of South Korean giants like LG Electronics and Samsung into the Indian market reshaped the landscape of consumer electronics and appliances.
The CBI later arrested Chanda Kochhar and Deepak Kochhar in December 2022, followed by Dhoot’s arrest on December 26, 2022. His case continues to draw attention as it navigates through legal processes, impacting perceptions of corporate accountability and regulatory oversight in the country.
The Rise and Fall of Venugopal Dhoot: A Tale of Business Fortunes
The 2G Spectrum Controversy
In 2012, following the 2G spectrum case, the Supreme Court of India revoked 122 telecom licenses issued in 2008, 21 of which belonged to Videocon.
He is a Hindu and holds Indian Nationality.
Venugopal is married to Ramabai Dhoot, who is a board member of the Videocon group and they together have a son and 3 daughters named Anirudh Dhoot, who is the director of the Videocon group, Surabhi Dhoot and Tanushri Dhoot. Known for its competitive pricing, Videocon's products such as the Bazooka and Bazoomba TV models gained immense popularity, challenging contemporaries like Mirc Electronic (Onida), Salora, and Weston.
Leadership and Contribution
As Chairman and Managing Director of Videocon Industries Limited, Venugopal Dhoot not only steered the company's growth but also made substantial contributions to India's consumer electronics sector.
He served as managing director of Videocon Industries Limited and the Videocon Group.
The company boasted 17 manufacturing sites within India and additional plants across countries like China, Mexico, Poland, and Italy. They ventured into manufacturing conventional tube-based color TV sets, marking their entry into consumer electronics.foundation for his future ventures in business.
Career and Achievements
Venugopal Dhoot has made significant strides in the electronics industries manufacturing sector, establishing himself as a key figure in India's business landscape.
His achievements not only reflect his personal success but also his enduring impact on the corporate world and the Indian economy.
Conclusion
Venugopal Dhoot's life journey exemplifies how dedication, perseverance, and family support can pave the way for entrepreneurial success. Despite holding licenses for 18 circles, the company could only launch commercial services in 11 circles, marking the beginning of Dhoot's challenges.
Legal Challenges and Controversies
Dhoot's career took a tumultuous turn when he became embroiled in legal controversies.
Dhoot is holding the Directorship of videocon telecommunication limited, Hindustan oil ventures limited, Energy limited, Jumbo techno services of private limited, and senior consulting private limited.
Videocon group private limited became popular when the company invested in the business of colors Tv in 1985. The investigation also scrutinized the alleged quid pro quo involving a ₹64 crore loan from Dhoot's Videocon to NuPower Renewables, a company owned by Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar.
Legal Proceedings and Bail
Following his arrest, Venugopal Dhoot faced legal proceedings.
Details on @IndiaTodaypic.twitter.com/06KJkQy4wT
— Shiv Aroor (@ShivAroor) December 26, 2022
VIDEOCON LOAN FRAUD;
CBI ARRESTS ICICI ex-CEO CHANDA KOCHHAR & husband Deepak.
Chanda Kochhar accepted bribe through Deepak to grant Crores of loans to Videocon in 2009-11. Venugopal Dhoot invested Crores in Deepak's Co after GIVEN loan from ICICI.@PChidambaram_IN All Good?😉
— BhikuMhatre (@MumbaichaDon) December 23, 2022
Venugopal Dhoot’s Family And Education
Venugopal Dhoot did his graduation from the Pune University of engineering based in Pune, Maharashtra while he holds a Bachelor’s degree in mechanical engineering.
He holds a bachelor’s degree in mechanical engineering from the College of Engineering, Pune University. He has two brothers: Rajkumar Nandlal Dhoot, a politician and businessman involved with the Videocon Group, and Pradipkumar Nandlal Dhoot, a managing director at Videocon Hydrocarbon Holdings Limited.
Wife & Children
He’s married to Ramabai Dhoot, a Videocon Group board member.
The charges included criminal conspiracy and cheating, relating to the loan that became a non-performing asset (NPA) for ICICI Bank in 2017.
Investigations revealed that Deepak Kochhar’s company, NuPower Renewables, had a partnership with Dhoot, and funds from the ICICI loan were allegedly invested in this venture.