ICICI loan fraud case: SC issues notice on CBI’s appeal against HC order granting interim bail to Venugopal Dhoot

economictimes.indiatimes.com:

CBI’s appeal against the Bombay High Court order granting interim bail to Videocon Group chairman Venugopal Dhoot. As per the CBI, ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.

The agency had arrested Dhoot in December last year (2022). Opposing the CBI's plea for remand, senior advocate Amit Desai, appearing for the Kochhars, had brought to the court's notice a letter ICICI Bank wrote to the CBI in July 2021 stating that it incurred no wrongful loss in any of the transactions under question.

The CBI's FIR named the Chanda and Deepak Kochhar and Dhoot along with Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy, Videocon International Electronics Limited and Videocon Industries Limited as accused. The agency has alleged that ICICI Bank sanctioned credit facilities to the tune 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 the credit policy of the bank.