Loan fraud
Loan fraud: Chanda Kochhar, Deepak Kochhar and Venugopal Dhoot remanded in CBI custody till Dec 28
Mumbai/UNI: A special Central Bureau of Investigation (CBI) court in Mumbai Monday remanded former CEO of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar and Videocon group founder Venugopal Dhoot into custody till Dec 28 in the Videocon loan case.
Videocon group founder Venugopal Dhoot would be in CBI custody till December 28 in connection with a loan fraud case.
The couple was arrested on Friday evening by CBI in New Delhi and produced before a Special CBI Court in Mumbai Saturday which had remanded them into CBI custody till Monday.
Venugopal Dhoot was arrested on Monday morning after detailed questioning.
Special court judge AS Sayyad remanded the trio till Dec 28 after CBI represented by special public prosecutor, A. Limosin, sought three-day custody to confront all the accused.
Chanda is accused of cheating and irregularities in a loan of Rs.3,250 crores granted in 2012 to the Videocon Group, which became a non-performing asset for the ICICI Bank.
A whistleblower alleged in the complaint that Kochhar's husband and her family members benefited from the dealings.
Allegations are that when Kochhar was at the helm of affairs at ICICI Bank, she cleared a loan for the Videocon Group of Companies. As quid pro quo, her husband's company Nu Renewable allegedly received investment from Videocon.
The loan later turned into an NPA and was termed bank fraud.
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