. NEW DELHI: ED Wednesday said it has filed a chargesheet before a PMLA court in Delhi against UK resident Sachin Dev Duggal, chairman of Swiss company nHoldings SA, alleging that Videocon Industries Ltd of V N Dhoot siphoned off over Rs 35 crore to the Swiss firm before routing the money back to Indian tech firm Nivio Technologies.Duggal did not appear for questioning despite multiple summonses since 2022. “He provided only partial, evasive documentary submissions by email. Investigations revealed systematic diversion of over $2 billion by Videocon group promoters, layered through a complex web of overseas entities,” ED said.“This prosecution complaint is in continuation of the original complaint of Dec 18, 2024, against V N Dhoot and 12 others, cognisance of which was taken on Feb 10, 2026,” the agency said.The agency claimed that since 2008, VIL had advanced interest-free loans of over Rs 17 crore to Duggal-controlled Nivio Technologies India Pvt Ltd without a formal agreement. A loan pact was signed on May 24, 2011, and the next day an overseas Videocon entity invested CHF 37.9 lakh in nHoldings SA at an inflated valuation.Between 2011 and 2014, Videocon routed $37 lakh to nHoldings SA and Duggal through five overseas firms. ED said its probe, based on a 2020 CBI FIR, found Duggal was the “key beneficiary” of a scheme to launder funds. Financial records showed Nivio received Rs 35 crore from nHoldings SA in FY12, when Videocon was transferring funds into the Swiss entity.End of ArticleFollow Us On Social MediaVideosIndia Denies Crypto Scam Claims After Ship Fired Upon in Strait of Hormuz TensionsFormer J&K DGP SP Vaid on Pahalgam Attack, Terrain and Security Challenges In Jammu And KashmirIndia Marks Pahalgam Anniversary With a Strong Message To Terror Outfits & Pak | WatchEC Issues Notice To Kharge Over “Terrorist” Remark On PM Modi After BJP Complaint‘Democracy Cannot Be Jeopardised’: SC Slams Mamata Banerjee Over Alleged Interference In ED RaidIran Seizes Two Ships in Strait of Hormuz, India-Bound Vessel Sparks Global ConcernINS Dhruv: The ship behind India’s missile tracking and strategic strength‘Dot, Dot, Dot’: Rajnath Singh Warns Pakistan On Pahalgam Attack AnniversaryFrom US To Israel: Global Leaders Mark One Year Of Pahalgam Terror AttackPappu Yadav Defies NCW Notice, Doubles Down on Remarks Amid Massive Political Row123PhotostoriesStomach pain or acidity? Signs your “GERD” could be something more serious, and what to do nextWorld Book Day 2026: 10 quotes by famous people on the joy of reading10 cute baby girl pet names that begin with letter A5 of the most beautiful fish in the world that don’t look realCoachella 2026: 5 bizarre influencer outfits that ruined the festival fashionThe economy-class survival guide: How to be comfortable on a long-haul flightHow to deal with a child who answers back: 3 mindful parenting tips inspired by SadhguruAre you killing your Bougainvillea with kindness? Here are 4 things you really need to knowGenelia Deshmukh proves she believes in tradition in the sea of trends with her soft pink Nauvari saree momentANZAC Day 2026: What’s open and closed across Australia123Hot PicksBengal Election 2026Rahul gandhi rallyBengal election dos and don’tsTamil Nadu pollsSIR ProtestTN election dos and don’tsBank Holidays AprilTop TrendingWest Bengal electionTamil Nadu electionSupreme CourtMalegaon Blast CaseMeerut Blue Drum Murder CaseBareilly Suicide NewsTCS Nashik CaseDelhi Murder NewsMiddle East ConflictIPL Orange Cap

. NEW DELHI: ED Wednesday said it has filed a chargesheet before a PMLA court in Delhi against UK resident Sachin Dev Duggal, chairman of Swiss company nHoldings SA, alleging that Videocon Industries Ltd of V N Dhoot siphoned off over Rs 35 crore to the Swiss firm before routing the money back to Indian tech firm Nivio Technologies.Duggal did not appear for questioning despite multiple summonses since 2022. “He provided only partial, evasive documentary submissions by email. Investigations revealed systematic diversion of over  billion by Videocon group promoters, layered through a complex web of overseas entities,” ED said.“This prosecution complaint is in continuation of the original complaint of Dec 18, 2024, against V N Dhoot and 12 others, cognisance of which was taken on Feb 10, 2026,” the agency said.The agency claimed that since 2008, VIL had advanced interest-free loans of over Rs 17 crore to Duggal-controlled Nivio Technologies India Pvt Ltd without a formal agreement. A loan pact was signed on May 24, 2011, and the next day an overseas Videocon entity invested CHF 37.9 lakh in nHoldings SA at an inflated valuation.Between 2011 and 2014, Videocon routed  lakh to nHoldings SA and Duggal through five overseas firms. ED said its probe, based on a 2020 CBI FIR, found Duggal was the “key beneficiary” of a scheme to launder funds. Financial records showed Nivio received Rs 35 crore from nHoldings SA in FY12, when Videocon was transferring funds into the Swiss entity.End of ArticleFollow Us On Social MediaVideosIndia Denies Crypto Scam Claims After Ship Fired Upon in Strait of Hormuz TensionsFormer J&K DGP SP Vaid on Pahalgam Attack, Terrain and Security Challenges In Jammu And KashmirIndia Marks Pahalgam Anniversary With a Strong Message To Terror Outfits & Pak | WatchEC Issues Notice To Kharge Over “Terrorist” Remark On PM Modi After BJP Complaint‘Democracy Cannot Be Jeopardised’: SC Slams Mamata Banerjee Over Alleged Interference In ED RaidIran Seizes Two Ships in Strait of Hormuz, India-Bound Vessel Sparks Global ConcernINS Dhruv: The ship behind India’s missile tracking and strategic strength‘Dot, Dot, Dot’: Rajnath Singh Warns Pakistan On Pahalgam Attack AnniversaryFrom US To Israel: Global Leaders Mark One Year Of Pahalgam Terror AttackPappu Yadav Defies NCW Notice, Doubles Down on Remarks Amid Massive Political Row123PhotostoriesStomach pain or acidity? Signs your “GERD” could be something more serious, and what to do nextWorld Book Day 2026: 10 quotes by famous people on the joy of reading10 cute baby girl pet names that begin with letter A5 of the most beautiful fish in the world that don’t look realCoachella 2026: 5 bizarre influencer outfits that ruined the festival fashionThe economy-class survival guide: How to be comfortable on a long-haul flightHow to deal with a child who answers back: 3 mindful parenting tips inspired by SadhguruAre you killing your Bougainvillea with kindness? Here are 4 things you really need to knowGenelia Deshmukh proves she believes in tradition in the sea of trends with her soft pink Nauvari saree momentANZAC Day 2026: What’s open and closed across Australia123Hot PicksBengal Election 2026Rahul gandhi rallyBengal election dos and don’tsTamil Nadu pollsSIR ProtestTN election dos and don’tsBank Holidays AprilTop TrendingWest Bengal electionTamil Nadu electionSupreme CourtMalegaon Blast CaseMeerut Blue Drum Murder CaseBareilly Suicide NewsTCS Nashik CaseDelhi Murder NewsMiddle East ConflictIPL Orange Cap


ED chargesheet against UK resident in Videocon money laundering case

NEW DELHI: ED Wednesday said it has filed a chargesheet before a PMLA court in Delhi against UK resident Sachin Dev Duggal, chairman of Swiss company nHoldings SA, alleging that Videocon Industries Ltd of V N Dhoot siphoned off over Rs 35 crore to the Swiss firm before routing the money back to Indian tech firm Nivio Technologies.Duggal did not appear for questioning despite multiple summonses since 2022. “He provided only partial, evasive documentary submissions by email. Investigations revealed systematic diversion of over $2 billion by Videocon group promoters, layered through a complex web of overseas entities,” ED said.“This prosecution complaint is in continuation of the original complaint of Dec 18, 2024, against V N Dhoot and 12 others, cognisance of which was taken on Feb 10, 2026,” the agency said.The agency claimed that since 2008, VIL had advanced interest-free loans of over Rs 17 crore to Duggal-controlled Nivio Technologies India Pvt Ltd without a formal agreement. A loan pact was signed on May 24, 2011, and the next day an overseas Videocon entity invested CHF 37.9 lakh in nHoldings SA at an inflated valuation.Between 2011 and 2014, Videocon routed $37 lakh to nHoldings SA and Duggal through five overseas firms. ED said its probe, based on a 2020 CBI FIR, found Duggal was the “key beneficiary” of a scheme to launder funds. Financial records showed Nivio received Rs 35 crore from nHoldings SA in FY12, when Videocon was transferring funds into the Swiss entity.



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