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Videocon Group founder Venugopal Dhoot will get interim bail from Bombay HC

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The on Friday granted interim bail to arrested Videocon group founder and chairman, Venugopal Dhoot. Dhoot approached the excessive court docket after co-accused Chanda Kochhar, former managing director and chief govt officer of the financial institution, and her husband had been granted bail.

A division bench comprising justices Revati Mohite Dere and Prithviraj Chavan heard Dhoot’s plea. Earlier, Financial institution’s former CEO and managing director and her husband, Deepak Kochhar, had been launched from jail on Tuesday within the Videocon financial institution fraud case.

They had been launched a day after the excessive court docket held their arrest was “not in accordance with the legislation.” The Kochhars had been arrested on December 23 final 12 months and had been despatched to judicial custody six days later. The excessive court docket had requested the CBI to file by January 13 its affidavit in response to a petition filed by Dhoot looking for to quash the FIR registered towards him within the case, declare his arrest as “arbitrary and unlawful”, and launch him on bail.

The CBI had named the Kochhars, Dhoot, Nupower Renewables (NRL), managed by Deepak Kochhar, Supreme Vitality, Videocon Worldwide Electronics and as accused within the FIR registered in 2019 beneath IPC sections associated to prison conspiracy and provisions of the Prevention of Corruption Act.

The CBI has stated the personal sector lender Financial institution, headed by from 2009 to 2018, sanctioned credit score amenities to the tune of Rs 3,250 crore to those in violation of norms. Dhoot has additionally been accused of investing Rs 64 crore in Nupower by way of Supreme Vitality Pvt Ltd (SEPL) and transferred SEPL to Pinnacle Vitality Belief managed by Deepak Kochhar by way of a circuitous route between 2010 and 2012.


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