Bombay HC grants bail to Videocon chairman in ICICI loan fraud case
First Published: 20th January, 2023 13:24 IST
Dhoot was arrested by the Central Bureau of Investigation (CBI) on December 26, 2022
Videocon Group Chairman Venugopal Dhoot was granted bail by the Bombay High Court on Friday in the alleged loan fraud case related to ICICI Bank.
Dhoot was arrested by the Central Bureau of Investigation (CBI) on December 26, 2022.
Venugopal Dhoot’s lawyer Sandeep Ladda had filed this petition in the court days after the prime accused, former ICICI CEO Chanda Kochhar and her husband Deepak Kochhar, were granted bail on the grounds of “illegal arrest by CBI”.
CBI has alleged that Deepak Kochhar, husband of former ICICI Bank CEO-MD Chanda Kochhar, was helped by a co-accused to get the ownership of Nupower Renewables Ltd (NRL) and receive ill-gotten money.
CBI had registered a preliminary enquiry (PE) against Deepak Kochhar and Dhoot in March 2018 to probe alleged irregularities in the Rs 40,000 crore loan made by a consortium of lenders to the Videocon Group.
The agency had registered a case against Chanda, her husband and Venugopal Dhoot, along with their companies viz NuPower Renewables, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited.
During its preliminary enquiry, the CBI found six loans worth Rs 1,875 crore were sanctioned to the Videocon Group and companies associated with it between June 2009 and October 2011 in an alleged violation of laid-down policies of ICICI Bank, which are part of the probe.
The agency has said that the loans were declared non-performing assets in 2012, causing a loss of Rs 1,730 crore to the bank.
TOPMOST STORY NOW
Live Pre-poll violence in Meghalaya: TMC workers allegedly attacked by NPP workers in Phulbari constituency of West Garo Hills08th February 2023
Live Zomato’s Response To Virat Kohli’s Tweet On Losing His Phone Goes Viral07th February 2023
Live Shubman Gill, Mohammed Siraj among players nominated for ICC Player of the Month Award for January 202307th February 2023
Live It’s official! Sidharth Malhotra, Kiara Advani are now married07th February 2023
Rakhi Sawant’s husband Adil Durrani arrested, actress says he tried to hit her
Rakhi Sawant has filed an FIR against husband Adil Durrani, and the latter has been arrested. The actress claimed that Adil took away money and jewellery worth Rs 4 lakh and also tried to hit her07th February 2023
What happened at Sidharth Malhotra, Kiara Advani’s sangeet night? Details inside | Exclusive
Sidharth Malhotra and Kiara Advani's sangeet took place last night, February 6. The couple will tie the knot today, February 7.07th February 2023
Ramdev Charged For Hate Speech At Seers’ Meet In Rajasthan: Report
The FIR was registered at Chauhatan police station based on a complaint filed by a local resident, Pathai Khan, a police officer said05th February 2023