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Bank loan fraud case: Interim bail to Videocon Group chairman Venugopal Dhoot from Bombay HC

The Bombay High Court on Friday allowed the interim bail application of Videocon Group founder Venugopal Dhoot, nearly a month after his arrest in the ICICI Bank-Videocon loan fraud case.

By Ruchi Upadhyay 
Updated Date

Mumbai: The Bombay High Court has granted interim bail to Videocon Group Chairman Venugopal Dhoot in the ICICI-Videocon loan fraud case. He was arrested by the CBI on 26 December 2022. Earlier, the Bombay High Court had on January 13 reserved order on a writ petition filed by Videocon Group Chairman Venugopal Dhoot in the Videocon-ICICI Bank loan case. He had filed a petition opposing the arrest of him by the CBI.

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Videocon Group promoter Venugopal Dhoot’s counsel argued before the Bombay High Court on Friday (January 13) that the industrialist’s arrest in the ICICI Bank loan fraud case was unwarranted as he was cooperating with the investigation.

In his petition, Dhoot sought quashing of the remand orders of the Special CBI Court dated December 26, 28 and 29, 2022, under Articles 226 and 227 of the Constitution. Along with this, he termed the arrest as a violation of sections 41 and 41A of the Code of Criminal Procedure, 1973. The same bench had on January 9 granted interim bail to ex-ICICI Bank MD Chanda Kochhar and her husband Deepak Kochhar.

On the other hand, the Central Bureau of Investigation (CBI) had claimed that Dhoot was trying to evade the probe. Dhoot was arrested by the CBI on 26 December 2022 and is currently in judicial custody. Dhoot has moved the High Court seeking quashing of the FIR against him and also sought interim bail.

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