Videocon Group founder Venugopal Dhoot walks out of the special CBI court in Mumbai after appearing in the ICICI Bank loan fraud case. file | Photo Credit: PTI
A Mumbai court on Thursday dismissed a petition filed by Videocon Group Chairman Venugopal Dhoot challenging his Arrest by the Central Bureau of Investigation (CBI) In the Videocon-ICICI Bank loan case.
Mr Dhoot was arrested by the central agency on December 26, 2022 and is currently lodged in Taloja Central Jail. He challenged his arrest on the ground that the CBI had mechanically arrested him two days after the CEO and MD of ICICI Bank Chanda Kochhar and her husband Deepak were arrested,
Mr Dhoot’s counsel argued that he was cooperating with the CBI, and called his arrest illegal.
Special Judge SH Gwalani dismissed her plea challenging her arrest and also rejected her application for home food.
He, along with the Kochhar family, was sent to judicial custody for 14 days on 29 December.
The CBI has alleged that under Ms Kochhar’s leadership, ICICI Bank sanctioned credit worth ₹3,250 crore to companies owned by the Videocon group, in direct violation of the Banking Regulation Act, Reserve Bank of India guidelines and credit policies. of banks.
The agency filed a First Information Report (FIR) in January 2019, accusing Ms Kochhar of cheating and criminal conspiracy, and causing loss to ICICI Bank by sanctioning loans to Videocon Group of Companies in violation of rules during the relevant period. was delivered. and policies of ICICI Bank. These loans given to Videocon group companies have turned into Non-Performing Assets (NPA) thus causing wrongful loss to ICICI Bank, and wrongful gain to the borrowers and the accused persons.