MUMBAI: Venugopal Dhoot, the ex-promoter and MD of the Videocon group, on Monday approached the Bombay HC with a petition similar to the Kochhars’ — to declare his arrest illegal, stay his remand, and release him on bail.
After Dhoot’s lawyer Sandeep Ladda mentioned it before a bench of Justices Revati Mohite Dere and Prithviraj Chavan to seek an urgent hearing, it was slotted for Tuesday. Dhoot was arrested by the CBI three days after Chanda and Deepak Kochhar on December 26 in the same case of causing losses to ICICI Bank in a loan fraud.
Dhoot said in his petition his arrest violated his fundamental rights and was in gross violation of Sections of Code of Criminal Procedure. The remand orders of the special CBI court directing custody till January 10, 2023, are also in “gross violation” of laws and “an abuse of authority and process of law”.
He added that in 2012, pursuant to RBI’s approval, the Videocon group underwent a corporate debt restructuring and loans taken in 2007 from a consortium of banks, including ICICI Bank, were repaid. In 2017, an anonymous whistle-blower alleged ICICI loans were an illegal quid pro quo for unlawful gains made by the Kochhars. The petition said though ED had lodged a money laundering case based on the CBI case, in March 2021, a special trial court granted Dhoot bail observing him not to be guilty.
Dhoot said he had been cooperating with CBI and was attending its office in December 2022, when he was arrested. He said he suffers from various ailments and needs continuous care.
After Dhoot’s lawyer Sandeep Ladda mentioned it before a bench of Justices Revati Mohite Dere and Prithviraj Chavan to seek an urgent hearing, it was slotted for Tuesday. Dhoot was arrested by the CBI three days after Chanda and Deepak Kochhar on December 26 in the same case of causing losses to ICICI Bank in a loan fraud.
Dhoot said in his petition his arrest violated his fundamental rights and was in gross violation of Sections of Code of Criminal Procedure. The remand orders of the special CBI court directing custody till January 10, 2023, are also in “gross violation” of laws and “an abuse of authority and process of law”.
He added that in 2012, pursuant to RBI’s approval, the Videocon group underwent a corporate debt restructuring and loans taken in 2007 from a consortium of banks, including ICICI Bank, were repaid. In 2017, an anonymous whistle-blower alleged ICICI loans were an illegal quid pro quo for unlawful gains made by the Kochhars. The petition said though ED had lodged a money laundering case based on the CBI case, in March 2021, a special trial court granted Dhoot bail observing him not to be guilty.
Dhoot said he had been cooperating with CBI and was attending its office in December 2022, when he was arrested. He said he suffers from various ailments and needs continuous care.
