Kochhars, Dhoot sent to 14-day judicial custody in loan fraud case | Latest News India - Hindustan Times
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Kochhars, Dhoot sent to 14-day judicial custody in ICICI-Videocon loan fraud case

PTI |
Dec 29, 2022 01:34 PM IST

The CBI has alleged that ICICI Bank had sanctioned credit facilities to the tune of ₹3,250 crore to companies of the Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.

A special CBI court here on Thursday sent former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group founder Venugopal Dhoot to 14-day judicial custody in connection with a loan fraud case. The Kochhars were arrested by the Central Bureau of Investigation (CBI) last Friday. Dhoot was arrested on Monday.

Former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar.(Biplov Bhuyan/HT PHOTO)
Former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar.(Biplov Bhuyan/HT PHOTO)

The three were produced before special judge S H Gwalani at the end of their earlier remand on Thursday. The CBI, represented by special public prosecutor A Limosin, did not seek their custody further. The court then sent all the three accused to judicial custody till January 10, 2023.

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The CBI had named the Kochhars and Dhoot, along with companies Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy Private Limited (SEPL), Videocon International Electronics Ltd (VIEL) and Videocon Industries Limited, as accused in its FIR registered in 2019 under Indian Penal Code sections related to criminal conspiracy and the Prevention of Corruption Act.

The CBI has alleged that ICICI Bank had sanctioned credit facilities to the tune of 3,250 crore to companies of the Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.

According to the CBI, a sanctioning committee headed by Chanda Kochhar in 2009 approved a term loan of 300 crore to VIEL in contravention of the rules and policies of the bank by abusing her official position as a public servant. The day after the loan was disbursed, Dhoot transferred 64 crore to NRL from VIEL through SEPL.

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