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.
Also Read: Kerala allows menstrual, maternity leave for students in all state-run universities
COMMENTS
TOPMOST STORY NOW
Live Naga Civil Society Organisation In Manipur Condemns Brutal Attack on Senapati District Students Association Executives
23rd December 2024
Live Assam CM Himanta Biswa Sarma Takes Key Decisions in Assam Cabinet, Orders Action Against Govt Employees Misusing Orunodoi Scheme
23rd December 2024
Live Arunachal: 80-Year-Old Man Walks 5 km to Donate Vegetables to School Hostel, Exemplifying Selfless Humanity
23rd December 2024
Live Shops Are Brimming With Festive Decorations Including Stars, Christmas Tree in Tripura Ahead of Christmas
23rd December 2024
WE RECOMMEND
Epigamia Co-Founder Rohan Mirchandani Passes Away at 41 Due to Heart Attack
The company’s leadership decided to continue to manage the business.
23rd December 2024
7 Indian nationals injured in Magdeburg Christmas market attack
Of these,three have been discharged from the hospital, while the Indian Mission is closely monitoring the condition of the remaining victims.
22nd December 2024
Nagaland MP Accuses Rahul Gandhi of Standing Too Close to Her, Making Her Feel Uncomfortable
MP Phangnon Konyak has filed a complaint with Rajya Sabha Chairman against Congress leader Rahul Gandhi
19th December 2024
GRAP Stage IV reintroduced in NCR as AQI breaches 400 mark
This comes after the Air Quality Index in Delhi breached the 400 mark. AQI was recorded as 399 at 9 pm and 401 at 10 pm.
17th December 2024
India, Bangladesh to commemorate 1971 war ‘Vijay Diwas’ with annual exchange of veterans today
The event also gave an opportunity to the tribal community to showcase their talent.
16th December 2024