Mumbai: A particular courtroom on Friday (March 12) granted bail to Videocon Group promoter Venugopal Dhoot in a case filed by the Enforcement Directorate (ED) regarding alleged cash laundering regarding his firm and the ICICI Bank.
Special Judge, Prevention of Money Laundering Act circumstances, A.A. Nandgaonkar granted conditional bail on a Rs 5 lakh bond to Dhoot, who has been ordered to give up his passport to the ED, not to journey overseas with out the particular courtroom`s permission and seem earlier than the probe company, every time required.
Arguing for bail, Dhoot’s lawyer Sandeep Ladda contended that his shopper was sick, had been totally cooperating with the probe company and has no plans to depart the nation until the circumstances in opposition to him are pending.
Dhoot additionally claimed that neither he nor his household has benefitted by way of the alleged crimes they’re charged with, all their belongings/properties are mortgaged with banks and he doesn’t personal any asset immediately or not directly in India or overseas.
He additional mentioned that whereas had not prompted any losses to any of his debtors, he was himself a sufferer and sustained losses due to the cancellation of 21 telecom licences.
Dhoot added that he had to unload his different worthwhile companies to repay the excellent and the quantities had been immediately credited to the debtors.
On January 30, the particular courtroom had issued summons to Dhoot, ICICI Bank`s ex-CEO and Managing Director Chanda Kochhar, and her husband Deepak Kochhar after taking cognizance of the ED cost sheet.
While Chanda Kochhar appeared earlier than the courtroom and was later granted bail, her husband stays in judicial custody since his arrest by the ED in September 2020.
Following a criticism lodged by the Central Bureau of Investigation, the ED had filed an FIR in opposition to the Kochhars and Dhoot alleging money-laundering and different costs.
The ED contended that from a mortgage quantity of Rs 300 crore sanctioned to Videocon International Electronics Ltd (VIEL) by a committee of the ICICI Bank – then headed by Chanda Kochhar, a sum of Rs 64 crore was transferred by VIEL to Deepak Kochhar’s Npower Renewables Pvt Ltd on September 8, 2009, only a day after the mortgage was disbursed.
