The Bombay High Court has granted interim relief to Videocon Group chairman Venugopal Dhoot in the ICICI Bank – Videocon loan case. He will be out of judicial custody after furnishing Rs 1 lakh cash.
An intervention application was filed by lawyers against any relief to Dhoot. The court has ordered a cost of Rs 25,000 to be imposed on them. The money has to be deposited with the Maharashtra legal aide services.
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The court also came down on the intervenors who claimed that their intervention was filed and numbered but the court could not find it. “We trusted you,” said the court.
WHAT IS THE CASE?
The Central Bureau of Investigation (CBI) on December 26, 2022 has arrested Videocon Group promoter Venugopal Dhoot in the ICICI loan fraud case. Former ICICI Bank CEO Chanda Kocchar and her husband were also arrested by the CBI in the same case.
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Dhoot was being probed by the CBI in connection with defrauding ICICI Bank allegedly with the help of Chanda Kochhar and her husband Deepak Kochhar.
The case pertains to alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies.
The probe agency has alleged that ICICI Bank sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon promoted by Venugopal Dhoot in violation of the Banking Regulation Act, RBI guidelines and the credit policy of the bank.
