ICICI Loan Fraud: Venugopal Dhoot, Chanda & Deepak Kochhar Sent to 3-Day CBI Custody

His advocate further said the Enforcement Directorate (ED) has already conducted an investigation. He said the investigation went on for six months but the CBI arrested Deepak Kochhar after he got bail.
Central Bureau of Investigation  (CBI)
Central Bureau of Investigation (CBI)

Videocon Group Chairman Venugopal Dhoot, former managing director and CEO of the ICICI bank Chanda Kochhar and her husband Deepak Kochhar have been sent to three-day Central Bureau of Investigation (CBI) custody in connection to the ICICI Bank money laundering case.

The CBI got a three-day remand of Chanda Kochhar and her husband Deepak Kochhar on Saturday. Earlier on Monday, Venugopal Dhoot was arrested by the CBI in the ICICI loan case. 

Deepak Kochhar's advocate Vikram Chaudhary said, "In the remand, it is said that Deepak Kochhar was not cooperating in the investigation but nothing is explained about how and why."

His advocate further said the Enforcement Directorate (ED) has already conducted an investigation. He said the investigation went on for six months but the CBI arrested Deepak Kochhar after he got bail.

Chaudhary further alleged that Deepak Kochhar was arrested in an inhumane manner and the agency needs to explain his arrest. He added that the arrest could not be made on the allegations alone.

The case is related to alleged irregularities and corrupt practices in the sanction of a Rs 1,875 crores loan disbursed by ICICI Bank to the Videocon Group between 2009 and 2011.

During its preliminary enquiry, the CBI found that six loans worth Rs 1,875 crores were sanctioned to the Videocon Group and companies associated with it between June 2009 and October 2011, in an alleged violation of the laid-down policies of ICICI Bank.

The agency claimed the loans were declared non-performing assets in 2012, causing a loss of Rs 1,730 crores to the bank.

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

Central Bureau of Investigation  (CBI)
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