Friday, August 19, 2022

ਵਾਹਿਗੁਰੂ

spot_img











ICICI Videocon loan case: Chanda Kochhar granted bail by court

Mumbai, Feb 12, 2021-
A court here on Friday granted bail to former ICICI Bank CEO and MD Chanda Kochhar with a rider that she cannot leave the country with its permission.

Kochhar on Friday appeared before the Special PMLA court in connection with the ICICI-Videocon loan case here and applied for a bail through her lawyer Vijay Agarwal.

The court granted her bail on a bond of Rs 5 lakh.

Agarwal told, “There is no material with the ED against her. Technically speaking she cannot be accused in that case.”

“Moreover she is a woman and has cooperated during investigation, so she is covered by the provision under section 45 of the PMLA,” he added.

The case pertains to alleged irregularities in sanctioning six loans worth Rs 1,875 crore to Videocon Industries Ltd, Videocon International Electronics Ltd and four other companies associated with the Videocon group between June 2009 and October 2011.

Chanda was on the sanctioning committee deciding two loans – Rs 300 crore to Videocon International Electronics on August 26, 2009 and Rs 750 crore to Videocon Industries Limited on October 31, 2011.

The loans were issued in the alleged violation of the laid-down policy and regulations of the bank.

The term loan of Rs 300 crore sanctioned to VIEL was disbursed on September 7, 2009. The next day, Dhoot transferred Rs 64 crore to NuPower Renewables Ltd through Supreme Energy Private Ltd founded by him.

The ED had arrested her husband Deepak Kochhar in September last year.

In November last year, the ED filed its first chargesheet in the ICICI-Videocon loan case, naming Chanda Kochhar, Deepak Kochhar, Videocon group chief Venugopal Dhoot and seven firms in a money laundering case.

According to ED, the financial probe agency has also named Videocon International Electronic Limited (VIEL), Videocon Industries Ltd, NuPower Renewables Ltd and Supreme Energy Pvt Ltd, among others. (Agency)

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -spot_img

Stay Connected

31,110FansLike
113,977FollowersFollow

ENTERTAINMENT

National

GLOBAL

OPINION

The importance of rights of the nation – by Seema Singh

As we celebrate 75 years of Independence, it is a high time to introspect and contemplate about the gains and losses we made in...

Gilli-Danda: Comeback of 75 indigenous sports – by Narvijay Yadav

Under the ‘Azadi Ka Amrit Mahotsav’ the central government has stepped up the plan to introduce 75 indigenous sports in all schools. The popular...

Is the world sliding into a Chernobyl-plus nuclear disaster in Ukraine? – by Sergei Strokan

New Delhi, Aug 13, 2022- Tensions around the Zaporozhye nuclear power plant in Ukraine reached a climax by the weekend, after three more missiles...

SPORTS

Health & Fitness

Rise in pregnancy-related complications during Covid pandemic

New York, Aug 13, 2022- Covid-19 has caused unprecedented stressors as a new study showed a rise in pregnancy-related complications during the pandemic. The study, published in the journal JAMA Network Open, assessed how pregnancy-related complications and obstetric outcomes changed during Covid compared to pre-pandemic. Looking at the relative changes in the mode of delivery, rates of premature births and mortality...

Gadgets & Tech

error: Content is protected !!