Chanda Kochhar, her husband Deepak Kochhar. File
The CBI has filed a charge sheet against former MD and CEO of ICICI Bank Chanda Kochhar, her husband Deepak Kochhar and Videocon Group founder Venugopal Dhoot in a ₹3,250 crore loan fraud case, officers stated on April 8.
The company has filed the charge sheet beneath sections 120-B (legal conspiracy) and 409 (legal breach of belief) of the Indian Penal Code (IPC) and provisions of the Prevention of Corruption Act, amongst others, they stated.
The Central Bureau of Investigation (CBI) has named 9 entities, together with corporations and people, in response to the officers.
The CBI has moved to file its remaining report earlier than a particular courtroom in Mumbai with out the necessary requirement of sanction to prosecute Ms. Chanda Kochhar from ICICI Bank, the officers stated.
A letter had been despatched to the financial institution in search of the sanction however its response is awaited, they stated.
Generally, the particular courtroom waits for the sanction earlier than continuing with taking cognisance of the charge sheet and subsequently initiating the trial, if warranted.
The particular CBI courtroom is but to take cognisance of the charge sheet, the officers stated.
In the case of denial of sanction to prosecute, the provisions of the Prevention of Corruption Act won’t apply, they stated.
The company arrested the Kochhars and Mr. Dhoot in December final yr.
Opposing the CBI’s plea for remand, senior advocate Amit Desai, showing for the Kochhars, had dropped at the courtroom’s discover a letter ICICI Bank wrote to the CBI in July 2021 stating that it incurred no wrongful loss in any of the transactions beneath query.
The Bombay High Court had granted the couple bail on January 9, underlining that the CBI’s transfer to arrest them was “casual, mechanical and perfunctory and clearly without application of mind”.
The HC had famous that within the current case, the grounds of arrest are merely said as non-cooperation and never giving full and proper disclosure.
“The reason given in the arrest memos to arrest the petitioners, having regard to the facts as stated aforesaid, appears to us, to be casual, mechanical and perfunctory, clearly without application of mind,” the courtroom had noticed.
The Bench held the arrest of the Kochhars was in violation of Section 41A of the Code of Criminal Procedure (CrPC), which mandates sending discover for look earlier than the police officer involved.
The CBI’s FIR names the Kochhars and Mr. Dhoot together with Nupower Renewables (NRL) managed by Mr. Deepak Kochhar, Supreme Energy, Videocon International Electronics Limited and Videocon Industries Limited as accused.
The company has alleged that ICICI Bank sanctioned credit score amenities to the tune of ₹3,250 crore to the businesses of the Videocon Group promoted by Mr. Dhoot in violation of the Banking Regulation Act, RBI pointers, and the credit score coverage of the financial institution.
It additionally alleged that as part of a quid professional quo, Mr. Dhoot made an funding of ₹64 crore in Nupower Renewables via Supreme Energy Private Limited (SEPL) and transferred SEPL to Pinnacle Energy Trust managed by Mr. Deepak Kochhar via a circuitous route between 2010 and 2012.
