ICICI bank-Videocon Loan Fraud Case: Court extends CBI custody of Chanda Kochhar, Deepak Kochhar, Venugopal Dhoot

New Delhi [India], December 28 (ANI): The Central Bureau of Investigation (CBI) court on Wednesday granted two days more of custody to the CBI of three accused -Chanda Kochhar, Deepak Kochhar and Venugopal Dhoot- in the alleged ICICI bank-Videocon money laundering case.

In the alleged fraud case, CBI had sought custody of Videocon chairman Venugopal Dhoot, Former Managing Director and CEO of ICICI bank Chanda Kochhar and her husband Deepak Kochhar.

On Tuesday, the Vacation Bench of Bombay High Court refused any interim relief to the Kochhar couple and asked the petitioners to approach a regular bench when the court reopens after the Christamas-New Year holidays.

The CBI got three-day custody of Chanda, Deepak, and Videocon Group Chairman Venugopal Dhoot, a co-accused in the ICICI Bank money laundering case on Monday.

The case is related to alleged irregularities and corrupt practices in the sanction of a Rs 1,875 crore loan disbursed by ICICI Bank to the Videocon Group between 2009 and 2011.

During its preliminary inquiry, the CBI found that six loans worth Rs 1,875 crore were sanctioned to the Videocon Group and companies associated with it between June 2009 and October 2011, in an alleged violation of the laid-down policies of ICICI Bank.

The agency claimed the loans were declared non-performing assets in 2012, causing a loss of Rs 1,730 crore to the bank.