PTIThe Central Bureau of Investigation (CBI) informed the Bombay High Court Friday that it has evidence suggesting 'coercion' by businessman Deepak Kochhar that made Videocon group chairman VN Dhoot transfer a plush apartment in south Mumbai to a Kochhar-owned family trust.
The revelation was part of the agency's reply filed while contesting an interim relief sought by Dhoot for release on bail and quashing of the first information report (FIR) filed by the CBI in the ICICI-Videocon loan fraud case.
Dhoot, along with terminated ICICI MD & CEO Chanda Kochhar and her husband Deepak, were arrested by the CBI in connection with the probe into over ₹1,800 crore loans sanctioned by ICICI to Videocon group of companies when Chanda was at the helm of the bank.
Earlier on Monday, while granting interim relief to the Kochhars, the division bench division bench of Justice Revati Mohite Dere and Justice Prithvi Raj Chavan held the CBI's investigation was in violation of the provisions of law and "clearly without application of mind". It also observed that the grounds for arresting the couple as stated in the arrest memo, was "casual, mechanical and perfunctory".
Following the release, Dhoot also moved the HC seeking similar relief through his counsel, Sandeep Ladda.
According to the CBI, Dhoot and Deepak Kochhar were engaged in a civil litigation since 2003 over payment of ₹5.38 crore and interest there upon sought by Dhoot from Kochhar in respect of the said south Mumbai flat in CCI Chambers. On April 8, 2009, the said suit was disposed of by filing a consent terms by Videocon Industries and Deepak Kochhar's Credential Finance for conveying the title of property to a Videocon-nominated company by way of conveyance deed. In May of that year Chanda Kochhar was appointed as MD & CEO of ICICI Bank. In August, the flat was transferred to Quality Appliance Pvt Ltd , a Videocon nominated company by Credential Finance.
The revelation was part of the agency's reply filed while contesting an interim relief sought by Dhoot for release on bail and quashing of the first information report (FIR) filed by the CBI in the ICICI-Videocon loan fraud case.
Dhoot, along with terminated ICICI MD & CEO Chanda Kochhar and her husband Deepak, were arrested by the CBI in connection with the probe into over ₹1,800 crore loans sanctioned by ICICI to Videocon group of companies when Chanda was at the helm of the bank.
Earlier on Monday, while granting interim relief to the Kochhars, the division bench division bench of Justice Revati Mohite Dere and Justice Prithvi Raj Chavan held the CBI's investigation was in violation of the provisions of law and "clearly without application of mind". It also observed that the grounds for arresting the couple as stated in the arrest memo, was "casual, mechanical and perfunctory".
Following the release, Dhoot also moved the HC seeking similar relief through his counsel, Sandeep Ladda.
According to the CBI, Dhoot and Deepak Kochhar were engaged in a civil litigation since 2003 over payment of ₹5.38 crore and interest there upon sought by Dhoot from Kochhar in respect of the said south Mumbai flat in CCI Chambers. On April 8, 2009, the said suit was disposed of by filing a consent terms by Videocon Industries and Deepak Kochhar's Credential Finance for conveying the title of property to a Videocon-nominated company by way of conveyance deed. In May of that year Chanda Kochhar was appointed as MD & CEO of ICICI Bank. In August, the flat was transferred to Quality Appliance Pvt Ltd , a Videocon nominated company by Credential Finance.
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