Venugopal Dhoot’s plea against arrest dismissed, no relief to Kochhars

ICICI-Videocon Loan Fraud Case: A special court in Mumbai on Thursday (January 5) dismissed a petition by Videocon founder Venugopal Dhoot. In this petition, it was claimed that the arrest of former ICICI Bank CEO and Managing Director Chanda Kochhar (Former ICICI Bank CEO and MD Chanda Kochhar) by the CBI in the alleged loan fraud case is illegal.

The CBI court has also rejected the petition filed by Chanda Kochhar and her husband Deepak Kochhar for allowing them to use food, beds, mattresses and chairs at home. Special Judge MR Purwar dismissed Dhoot’s application finding no facts.

All three are currently in judicial custody

The CBI court has directed the jail authorities to provide them food in consultation with the medical officer. The Kochhar couple were arrested by the CBI on 23 December 2022, while Dhoot was arrested 3 days later. Now all three are currently in judicial custody.

Dhoot challenged the arrest

Dhoot had challenged his arrest claiming it was illegal and demanded his immediate release in the case. Dhoot’s lawyer SS Ladda argued with advocate Viral Babar (Lawyer SS Ladda, along Advocate Viral Babar) that Dhoot has been arrested only because. Because the investigating officer came under pressure after the arrest of the Kochhar couple.

Dhoot was afraid of becoming a government witness

The counsel for the founder of the Videocon group said that during the first hearing on the remand of the Kochhars, their counsel questioned why Dhoot had not been arrested yet. Advocate Ladda said that the Kochhar couple were afraid that Dhoot might turn approver.

what is the matter

It is to be noted that the CBI had registered an FIR in the year 2019 under relevant sections of the Indian Penal Code including the Prevention of Corruption Act and criminal conspiracy in which Chanda Kochhar, Deepak Kochhar and Venugopal Dhoot including NuPower Renewables (NRL), Supreme Energy, Videocon managed by Deepak International Electronic Limited and Videocon Industries Limited were named as accused.

The CBI has alleged that ICICI Bank sanctioned a loan of Rs 3,250 crore to Videocon group companies in violation of the Bank Regulation Act and Reserve Bank of India (RBI) guidelines. Allegedly, in return, Dhoot invested Rs 64 crore in Deepak Kochhar’s company between 2010 and 2012.

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