New Delhi, the Enforcement Directorate (ED) said on Wednesday that it has filed a chargesheet against a British citizen in a bank loan fraud and money laundering case linked to the Videocon group.

The case is related to the financing of the company’s oil and gas assets located in Mozambique, Brazil, and Indonesia. The agency said in a statement that the supplementary prosecution complaint includes the name of Sachin Dev Duggal, chairman of Swiss company Enholdings SA and beneficial owner of Indian technology firms Nivio Technologies and Engineer.AI. Duggal is a British citizen and resident.

During the investigation, he did not appear before the ED and only provided ‘incomplete and evasive’ documentary responses via email. In this case, the ED filed its first chargesheet in December 2025, naming Videocon group promoter Venugopal Dhoot and 12 others as accused. In February, a special Prevention of Money Laundering Act (PMLA) court took cognizance of it.

This money laundering case is linked to an FIR registered in June 2020 by the Central Bureau of Investigation (CBI). It alleged that Videocon Hydrocarbon Holdings Limited (VHHL), a wholly owned subsidiary of Videocon Industries Limited (VIL), had availed of a standby letter of credit (SBLC) facility of USD 277.36 crore from a consortium of banks led by the State Bank of India. According to the ED, this loan facility was taken for the development of foreign oil and gas assets in Mozambique, Brazil, and Indonesia.

New Delhi

New Delhi is the capital of India, officially inaugurated in 1931 as the seat of the British colonial government, replacing Calcutta. Designed by British architects Edwin Lutyens and Herbert Baker, the city is known for its grand boulevards and iconic landmarks like India Gate and the Rashtrapati Bhavan. Today, it serves as the vibrant political and cultural heart of modern India, blending colonial heritage with a dynamic contemporary identity.

Mozambique

Mozambique, located on the southeastern coast of Africa, has a rich history shaped by centuries of trade, Portuguese colonization (from the 16th century until 1975), and a devastating civil war that lasted until 1992. Its cultural sites, like the Island of Mozambique—a UNESCO World Heritage site—reflect a blend of African, Arab, and European influences, with well-preserved colonial architecture and ancient mosques. Today, the country is known for its stunning Indian Ocean beaches and vibrant cultural traditions, though it continues to develop after decades of conflict.

Brazil

Brazil is the largest country in South America, known for its vibrant culture, diverse ecosystems, and rich history. Originally inhabited by indigenous peoples, it was colonized by Portugal in 1500 and gained independence in 1822. Today, Brazil is famous for landmarks like the Amazon Rainforest, Christ the Redeemer statue, and its lively festivals such as Carnival.

Indonesia

Indonesia is a Southeast Asian archipelago nation with over 17,000 islands, known for its rich cultural diversity and history as a major hub for trade and religion. Its history includes ancient Hindu-Buddhist kingdoms like Srivijaya and Majapahit, followed by centuries of Dutch colonial rule, and a struggle for independence that culminated in 1945. Today, Indonesia is the world’s largest Muslim-majority country, celebrated for landmarks like Borobudur temple and its unique blend of ethnic traditions.

Swiss

The Swiss Confederation, commonly known as Switzerland, is a landlocked country in central Europe renowned for its stunning Alpine landscapes, neutrality, and high quality of life. Its history dates back to the foundation of the Old Swiss Confederacy in 1291, a defensive alliance of cantons that gradually expanded and gained independence from the Holy Roman Empire. Switzerland has maintained armed neutrality since the early 16th century, avoiding involvement in major European wars, and is today a global hub for finance, diplomacy, and international organizations like the Red Cross and the United Nations.

India

India is a vast and diverse country in South Asia, known for its rich cultural heritage and history spanning thousands of years. It was home to the ancient Indus Valley Civilization and later saw the rise of major empires like the Maurya and Gupta, followed by Islamic rule and British colonization. Since gaining independence in 1947, India has become the world’s largest democracy, blending ancient traditions with modern development.