HomeIndiaLoan fraud case: Ex-ICICI...

Loan fraud case: Ex-ICICI Bank CEO Chanda Kochhar, husband approach HC against their arrest


MUMBAI: Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar on Tuesday approached the Bombay High Court, calling their arrest by the Central Bureau of Investigation in a loan fraud case illegal.

The court, however, refused to grant urgent hearing and directed the Kochhars to mention the matter before the regular bench once it resumes after vacation.

A lawyer representing the Kocchars said that no prior sanction, as required under the law, was obtained by the CBI before their arrest.

The probe agency arrested the Kochhars on Friday night after questioning them briefly. It alleged that they were evasive in their responses and did not cooperate in the investigation.

The CBI had named the Kochhars and Venugopal Dhoot, chairman of the Videocon Group, along with Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy Private Ltd (SEPL), Videocon International Electronics Ltd. (VIEL) and Videocon Industries Limited, in its FIR registered in 2019 under IPC sections related to criminal conspiracy and the Prevention of Corruption Act.

The CBI has alleged that ICICI Bank had sanctioned credit of Rs 3,250 crore to the companies of the Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.

The probe agency arrested Dhoot, 71, on Monday in connection with the case.

The CBI has alleged that a sanctioning committee headed by Chanda Kochhar in 2009 approved a term loan of Rs 300 crore to VIEL in contravention of the rules and policies of the bank by abusing her official position as a public servant. The day after the loan was disbursed, Dhoot transferred Rs 64 crore toL from VIEL through SEPL, the CBI has alleged.

The Kochhar couple and Dhoot have been remanded in CBI custody till December 28. (PTI)

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

Climate Change Fuels Rise In Antimicrobial Resistance: UN Report

Antimicrobial resistance is becoming prevalent due to climate change and other...

Mysterious Meningitis Kills At Least 35 In Mexico Amid Outbreak

Northern Mexico is still grappling with a mysterious meningitis outbreak after...

Vitamin D Effectively Prevents Type 2 Diabetes In 3 Clinical Trials

Pre-diabetic people could turn to vitamin D supplements for help in...

Read Now

Climate Change Fuels Rise In Antimicrobial Resistance: UN Report

Antimicrobial resistance is becoming prevalent due to climate change and other environmental factors, according to a report from the United Nations Environment Programme. The leading environmental authority in the United Nations system recently published a report entitled “Bracing for Superbugs: Strengthening environmental action in the One Health response to...

Rise In Maternal Mortality Prompts Proposal For Frequent Blood Pressure Monitoring During, After Pregnancy

Pregnant women in the U.S. are being obliged to have their blood pressure screened and monitored during and after their pregnancy in response to the rise in maternal mortality in the country. On Tuesday, the U.S. Preventive Services Task Force issued a draft recommendation proposing a mandatory screening...

Mysterious Meningitis Kills At Least 35 In Mexico Amid Outbreak

Northern Mexico is still grappling with a mysterious meningitis outbreak after state officials reported another fatality due to the condition on Monday, bringing the total number of deaths to 35. Specific details about the latest death amid the outbreak weren’t immediately available, but health authorities in Mexico’s rural...

Vitamin D Effectively Prevents Type 2 Diabetes In 3 Clinical Trials

Pre-diabetic people could turn to vitamin D supplements for help in preventing their condition from progressing to type 2 diabetes. This is what scientists discovered after conducting clinical trials with the supplements. Researchers found after three randomized clinical trials that vitamin D supplements are modestly effective in lowering the...

Interests of poor at centre of every budget presented by BJP Govt: Modi

STATE TIMES NEWS New Delhi: Prime Minister Narendra...

BJP wave sweeping across Meghalaya: Chugh

STATE TIMES NEWS MEGHALAYA: BJP National General Secretary...

JEE-Main result: 20 candidates score perfect 100, NTA score of 50 candidates withheld

STATE TIMES NEWS New Delhi: Twenty candidates have scored perfect 100 in engineering entrance exam JEE-Main’s January edition, the National Testing Agency (NTA) announced...

No. of medical colleges in India has gone up to 654 from 387 since 2014: Govt

NEW DELHI: There has been a 69-per cent increase in the number of medical colleges in the country, from 387 before 2014 to...

Doctors stage protest demanding postponement of NEET-PG exam

NEW DELHI: A group of doctors, including NEET-PG aspirants, held a protest at the Jantar Mantar Road here on Tuesday, demanding the postponement...

AgustaWestland chopper scam: SC denies bail to alleged middleman Christian Michel James

NEW DELHI: The Supreme Court on Tuesday denied bail to Christian Michel James, an alleged middlemen in AgustaWestland chopper scam cases, who is...

India can be superpower in defence manufacturing: General Chauhan

PUNE: Lauding the private sector contribution in defence manufacturing, Chief of Defence Staff (CDS) General Anil Chauhan on Tuesday said India has the...

India hits out at Pakistan for raking up Kashmir issue at UN

UNITED NATIONS: India has slammed Pakistan for raking up the Kashmir issue in the United Nations, saying Islamabad harbours a deep sense of...