Lagatar24 Desk
New Delhi, Dec 28: The Central Bureau of Investigation (CBI) court on Wednesday extended the custody of three suspects Chanda Kochhar, Deepak Kochhar, and Venugopal Dhoot in the alleged ICICI bank-Videocon money laundering case by an additional two days.
CBI had requested custody of Videocon Chairman Venugopal Dhoot, Former Managing Director and CEO of ICICI bank Chanda Kochhar, and Chanda Kochhar’s husband Deepak Kochhar in the alleged fraud case.
The Kochhar couple was denied any temporary relief by the Bombay High Court Vacation Bench on Tuesday, and they were instructed to approach a normal bench after the court reopened after the Christmas and New Year holidays.
Chanda, Deepak, and Videocon Group Chairman Venugopal Dhoot, co-accused in the ICICI Bank money laundering case, were granted three days of CBI detention on Monday.
The issue involves alleged errors and unethical behaviour in the approval of a loan for Rs 1,875 crore that the ICICI Bank disbursed to the Videocon Group between 2009 and 2011.
The CBI discovered during its initial investigation that between June 2009 and October 2011, six loans totaling Rs 1,875 crore were approved for the Videocon Group and businesses affiliated with it, allegedly in violation of ICICI Bank’s established norms.
The agency asserted that the bank suffered a loss of Rs 1,730 crore when the loans were classified as non-performing assets in 2012.
