Mumbai The Bombay High Court has granted bail to accused and former ICICI Bank chief Chanda Kochhar and her husband Deepak Kochhar in the Videocon loan case. The Bombay High Court has ordered the release of both on a bond of Rs 1 lakh each. The Bombay High Court says that the CBI did not arrest Chanda and Deepak as per the law. The CBI, which arrested Chanda and Deepak Kochhar, is now going to move the Supreme Court to get their bail cancelled. The CBI alleges that the directions of the Reserve Bank of India (RBI) and the lending policy of ICICI Bank were violated by Chanda Kochhar. Bypassing the policies, Videocon group companies were given a loan of Rs 3250 crore from ICICI Bank.
The probe agency has alleged that following this credit facility, Videocon Group Chairman Venugopal Dhoot gave illegal benefits to Chanda Kochhar and Deepak Kochhar. Days after getting the loan, Venugopal Dhoot invested over Rs 60 crore in a company in which Chanda’s husband Deepak Kochhar held 50 per cent shares. The CBI alleges that Chanda Kochhar misused her position to give loans to Videocon to benefit her husband Deepak Kochhar’s company.
File photo of Videocon Group owner Venugopal Dhoot.
The CBI had earlier registered a case against Chanda Kochhar, Deepak Kochhar and Venugopal Dhoot of Videocon Group in this case. Apart from these three, a case of criminal conspiracy has also been registered against the companies Videocon Industries Limited, Supreme Energy, Videocon International Electronics Limited and NuPower Renewables. After arresting Chanda Kochhar and her husband Deepak, the CBI had also arrested and sent Videocon Group owner Venugopal Dhoot to jail. Now everyone’s eyes are on whether the Supreme Court will uphold the bail of Chanda and Deepak Kochhar or not.
Mumbai The Bombay High Court has granted bail to accused and former ICICI Bank chief Chanda Kochhar and her husband Deepak Kochhar in the Videocon loan case. The Bombay High Court has ordered the release of both on a bond of Rs 1 lakh each. The Bombay High Court says that the CBI did not arrest Chanda and Deepak as per the law. The CBI, which arrested Chanda and Deepak Kochhar, is now going to move the Supreme Court to get their bail cancelled. The CBI alleges that the directions of the Reserve Bank of India (RBI) and the lending policy of ICICI Bank were violated by Chanda Kochhar. Bypassing the policies, Videocon group companies were given a loan of Rs 3250 crore from ICICI Bank.
The probe agency has alleged that following this credit facility, Videocon Group Chairman Venugopal Dhoot gave illegal benefits to Chanda Kochhar and Deepak Kochhar. Days after getting the loan, Venugopal Dhoot invested over Rs 60 crore in a company in which Chanda’s husband Deepak Kochhar held 50 per cent shares. The CBI alleges that Chanda Kochhar misused her position to give loans to Videocon to benefit her husband Deepak Kochhar’s company.
File photo of Videocon Group owner Venugopal Dhoot.
The CBI had earlier registered a case against Chanda Kochhar, Deepak Kochhar and Venugopal Dhoot of Videocon Group in this case. Apart from these three, a case of criminal conspiracy has also been registered against the companies Videocon Industries Limited, Supreme Energy, Videocon International Electronics Limited and NuPower Renewables. After arresting Chanda Kochhar and her husband Deepak, the CBI had also arrested and sent Videocon Group owner Venugopal Dhoot to jail. Now everyone’s eyes are on whether the Supreme Court will uphold the bail of Chanda and Deepak Kochhar or not.
