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ICICI Loan Fraud Case: Bombay High Court grants interim bail to Venugopal Dhoot

January 20, 2023, 12:36 pm

Bombay High Court grants interim bail to Videocon Group Chairman Venugopal Dhoot on Friday in the alleged loan fraud case related to the ICICI Bank.

Earlier on 13 January, Venugopal Dhoot’s lawyer Sandeep Ladda had filed this petition on the same grounds as the Kochhar couple and the Bombay High Court reserved the order on a writ petition.

The Videocon chairman’s advocate further said: “As CBI said, they arrested him because he [Venugopal Dhoot] was not cooperating with the investigation, but it is not the case. Dhoot has always cooperated in the proceedings of the case.”

Seeking Dhoot’s release his lawyer had moved a petition in the Bombay High Court to release Dhoot on medical grounds.

Advocate Ladda mentioned that there is a blockage in his client Venugopal Dhoot’s heart and wants an immediate investigation.

“He even appeared 31 times as and when summons were sent to him by the Enforcement Directorate (ED). What could be the reason that it was not the ED but the CBI which has arrested him,” Advocate Ladda said.

Earlier on 10 January in an alleged multi-crore money laundering scam the release of former ICICI Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar accused were released from Arthur Road Jail on Tuesday.

Meanwhile, on 9 January while observing the arrest of the Kochhar couple the court said “not in accordance with the law” and from the judicial custody they have been allowed to release on a cash bail of Rs 1 lakh each.

Moreover, to the Videocon Group six loans were sanctioned worth Rs 1,875 crore between June 2009 and October 2011, CBI found during its preliminary inquiry.

However, in 2012 the agency said that the loans were declared non-performing assets which caused a loss of Rs 1,730 crore to the bank.

Venugopal Dhoot files bail plea on same grounds as Kochhar couple

January 13, 2023, 6:29 pm

In the alleged loan fraud case related to the ICICI Bank Videocon Group Chairman Venugopal Dhoot challenged his arrest by CBI and on Friday the Bombay High Court reserved the order on a writ petition.

Venugopal Dhoot’s lawyer Sandeep Ladda had filed this petition on the same grounds as the Kochhar couple.

Seeking Dhoot’s release his lawyer had moved a petition in the Bombay High Court to release Dhoot on medical grounds.

Advocate Ladda mentioned that there is a blockage in his client Venugopal Dhoot’s heart and wants an immediate investigation.

Moreover, to the Videocon Group six loans were sanctioned worth Rs 1,875 crore between June 2009 and October 2011, CBI found during its preliminary inquiry.

However, in 2012 the agency said that the loans were declared non-performing assets which caused a loss of Rs 1,730 crore to the bank.

Venugopal Dhoot files bail plea on same grounds as Kochhar couple

January 13, 2023, 5:10 pm

ICICI Videocon case: Bombay High court to hear Venugopal Dhoot’s plea on 13 January

January 10, 2023, 12:19 pm

In an alleged multi-crore money laundering scam Venugopal Dhoot’s plea will be heard on 13 January by the Bombay High Court. Earlier Tuesday morning former ICICI Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar were released from Arthur Road Jail.

Release of Chanda Kochhar, husband Deepak Kochhar allowed by Bombay HC

January 9, 2023, 12:28 pm

In an alleged multi-crore money laundering scam the release of former ICICI Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar accused has been allowed by the Bombay High Court on Monday.

Meanwhile, while observing the arrest of the Kochhar couple the court said “not in accordance with the law” and from the judicial custody they have been allowed to release on a cash bail of Rs 1 lakh each.

Earlier on 23 December 2022 the Kochhar couple was arrested by the Central Bureau of Investigation in the Videocon-ICICI loan scam case.

Moreover, to the Videocon Group six loans were sanctioned worth Rs 1,875 crore between June 2009 and October 2011, CBI found during its preliminary inquiry.

However, in 2012 the agency said that the loans were declared non-performing assets which caused a loss of Rs 1,730 crore to the bank.

Furthermore, on 24 December 2022 former Managing Director (MD) and Chief Executive Officer (CEO) of the ICICI bank Chanda Kochhar and her husband Deepak Kochhar were produced before a special court of the Central Bureau of Investigation (CBI) for carrying forward remand proceedings.

Videocon loan fraud case accused sent to 14-day judicial custody

December 29, 2022, 3:06 pm

In connection with the ICICI Bank-Videocon loan fraud case the three accused Managing Director and CEO of ICICI Bank, Chanda Kochhar, her husband Deepak Kochhar and Videocon chairman Venugopal Dhoot has been sent to 14-day judicial custody.

Earlier on Monday, for three days CBI sought the custody of the Videocon chairman and also of Chanda Kochhar and her husband Deepak Kochhar.

Meanwhile, a few days back Bhoot was questioned by the CBI. Chanda Kochhar and Deepak Kochhar were arrested on 23 December by the CBI and till 26 December they are scheduled to remain in CBI custody.

Earlier in March 2018 CBI registered a preliminary inquiry (PE) against Deepak Kochhar and Dhoot to probe a Rs 40,000 crore loan.

Moreover, a case has been registered by the inquiry agency against Chanda her husband, and Venugopal Dhoot, along with their companies viz NuPower Renewables, Supreme Energy, Videocon International Electronics Ltd, and Videocon Industries Limited.

However, in 2012 the agency said that the loans were declared non-performing assets which caused a loss of Rs 1,730 crore to the bank.

Furthermore, on Friday in connection with the alleged ICICI Bank-Videocon, money laundering case former Managing Director (MD) and Chief Executive Officer (CEO) of the ICICI bank Chanda Kochhar and her husband Deepak Kochhar CBI gets three-day remand.

Interim relief to Chanda and Deepak Kochhar refused by Bombay HC Vacation Bench

December 27, 2022, 1:30 pm

The Bombay High Court’s Vacation Bench on Tuesday refused any interim relief to former Managing Director and CEO of ICICI Bank, Chanda Kochhar, and her husband Deepak Kochhar.

In connection with the ICICI Bank-Videocon loan fraud case on Monday Videocon chairman Venugopal Dhoot was arrested.

Earlier on Monday Videocon chairman Venugopal Dhoot, former MD and CEO of ICICI Bank Chanda Kochhar, and her husband Deepak Kochhar was brought to CBI court.

Meanwhile, the bench asked the couple to approach a regular bench after the court reopens after the Christamas-New Year holidays.

Moreover, for three days CBI has sought the custody of the Videocon chairman and also of Chanda Kochhar and her husband Deepak Kochhar.

“In the remand, it is said that Deepak Kochhar was not cooperating in the investigation but nothing is explained about how and why,” Deepak Kochhar’s advocate Vikram Chaudhary said.

Enforcement Directorate (ED) has already conducted an investigation for six months and after Deepak Kochhar got bail CBI arrested Kochhar, the advocate further stated.

“Deepak Kochhar got bail in the ED case. The agency approached the Supreme Court challenging my client’s bail but it refused to intervene. My client was arrested in an inhumane manner at a time when his son’s marriage has been fixed. This is illegal. The arrest of Deepak Kochhar needs to be explained. It was not a routine arrest,” said Chaudhary.

However, in 2012 the agency said that the loans were declared non-performing assets which caused a loss of Rs 1,730 crore to the bank.

CBI arrests Videocon chairman Venugopal Dhoot

December 26, 2022, 1:08 pm

After the arrest of former ICICI Bank’s chief executive officer and managing director, Chanda Kochhar, and her husband, Deepak Kochhar, in a case related to the credit facilities extended to the Videocon Group of companies, the CBI on Monday arrested Videocon Group promoter, Venugopal Dhoot.

Meanwhile, from Mumbai Dhoot has been arrested and a few days back Dhoot was questioned by the CBI. Chanda Kochhar and Deepak Kochhar were arrested on 23 December by the CBI and till 26 December they are scheduled to remain in CBI custody.

Earlier in March 2018 CBI registered a preliminary inquiry (PE) against Deepak Kochhar and Dhoot to probe a Rs 40,000 crore loan.

However, in 2012 the agency said that the loans were declared non-performing assets which caused a loss of Rs 1,730 crore to the bank.

Videocon loan fraud case: CBI gets 3-day remand of former ICICI CEO Chanda Kochhar

December 24, 2022, 6:00 pm

In connection with the alleged ICICI Bank-Videocon, money laundering case former Managing Director (MD) and Chief Executive Officer (CEO) of the ICICI bank Chanda Kochhar and her husband Deepak Kochhar CBI gets 3-day remand.

Earlier in the day they were produced before a special court of the Central Bureau of Investigation (CBI) for carrying forward remand proceedings.

Meanwhile, as per the First Investigation Report registered with them on Friday CBI arrested the couple.

“Accused 4 was MD and CEO of ICICI in 2009 and the fifth one is her husband,” the lawyer said.

Moreover, six loans were sanctioned to Videocon after Chanda Kochhar became the MD and CEO of the ICICI bank.

“The loan amount of Rs 1,800 crore has been given to the company,” the CBI lawyer said.

“We are filing an application to invoke IPC section 409 also in this case. We had already given a notice to both the accused under section 41 of the CrPC, but since they did not cooperate so we arrested them,” the CBI lawyer said.

The CBI lawyer argued, “They came yesterday (December 23) and due to non-cooperation, they were arrested. To confront them with the spam evidence and documents of the case we should be given three days’ custody of both the accused.”

However, the advocate of the Kochhars, Amit Desai said, FIR also included industrialist Venugopal Dhoot of the Videocon Group.

“Years after the FIR was registered against them, none of the Kochhars were called for joining the investigation and then they suddenly sent notice for December 15 which was changed to yesterday only with the approval of the CBI,” Desai said.

“If there was no need for investigation till January 2019, why have they been arrested now?” Desai asked.

Furthermore, in 2012 the agency said that the loans were declared non-performing assets which caused a loss of Rs 1,730 crore to the bank.

Chanda Kochhar, Deepak Kochhar produced before special court

December 24, 2022, 5:54 pm

They were produced before a special court of the Central Bureau of Investigation (CBI) for carrying forward remand proceedings.

Meanwhile, as per the First Investigation Report registered with them on Friday CBI arrested the couple.

“Accused 4 was MD and CEO of ICICI in 2009 and the fifth one is her husband,” the lawyer said.

Moreover, six loans were sanctioned to Videocon after Chanda Kochhar became the MD and CEO of the ICICI bank.

“The loan amount of Rs 1,800 crore has been given to the company,” the CBI lawyer said.

However, the advocate of the Kochhars, Amit Desai said, FIR also included industrialist Venugopal Dhoot of the Videocon Group.

“If there was no need for investigation till January 2019, why have they been arrested now?” Desai asked.

Furthermore, in 2012 the agency said that the loans were declared non-performing assets which caused a loss of Rs 1,730 crore to the bank.