CBI court extends Kochhars, Dhoot’s Judicial Custody till January 10th in ICICI Bank loan fraud case.
- ByStartupStory | December 29, 2022
CBI court on Thursday extended the judicial custody of former Managing Director (MD) of ICICI bank Chanda Kochhar, Deepak Kochhar and Videocon CEO Venogopal Dhoot in loan fraud case till 10th January.
According to the CBI case, Chanda Kochhar received a Rs 64 crore kickback from the Videocon group in Deepak’s company, Nupower Renewables Pvt Ltd, in lieu of the loans. It is claimed that a Rs 300 crore loan was disbursed to one of the Videocon group’s companies, and that within 48 hours of the disbursement, Rs 64 crore was transferred to Nupower Renewables via layers of transactions.
The CBI had arrested the husband and wife on December 23rd after interrogating them briefly regarding the matter. Venugopal was arrested on December 26th. The three were produced before special judge S H Gwalani at the end of their earlier remand on Thursday.
The CBI claims that ICICI Bank granted credit facilities totaling Rs 3,250 crore to companies in the Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and the bank’s credit policy.
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