Friday, December 30, 2022

In prison until January 10 in a loan fraud case are Kochhars and Dhoot

Kochhars, Dhoot in custody till January 10 in loan fraud case


MUMBAI: In connection with a loan fraud case, a special CBI court here sentenced Chanda Kochhar, her husband Deepak Kochhar, and Videocon group founder Venugopal Dhoot to judicial custody until January 10.

The Kochhars were captured by the Focal Agency of Examination (CBI) last Friday. Monday saw Dhoot taken into custody. At the conclusion of their initial remand on Thursday, the three were brought before special judge S H Gwalani.

A Limosin, the special prosecutor for the CBI, did not pursue any further custody requests.

Following that, the court placed all three of the accused in judicial custody until January 10, 2023.

In its 2019 FIR filed under sections of the Indian Penal Code pertaining to criminal conspiracy and the Prevention of Corruption Act, the CBI had named the Kochhars and Dhoot, in addition to the businesses Nupower Renewables (NRL), which is managed by Deepak Kochhar, Supreme Energy Private Limited (SEPL), Videocon International Electronics Ltd (VIEL), and Videocon Industries Limited, as defendants.

According to the CBI, ICICI Bank violated the Banking Regulation Act, RBI guidelines, and the bank's credit policy by providing credit facilities to companies in Dhoot's Videocon Group worth Rs 3,250 crore.

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