Videocon loan case: Bombay High Court seeks CBI reply on plea by Venugopal Dhoot challenging arrest

The Bombay High Court on Tuesday sought a reply from the Central Bureau of Investigation (CBI) on a petition filed by Videocon Group chairman Venugopal Dhoot to quash the first information report (FIR) filed against him in the Videocon loan case..Advocate Kuldeep Patil, appearing for the CBI, sought for two weeks' time to file a reply. .A division bench of Justices Revati Mohite Dere and PK Chavan granted time till Friday and posted the matter for hearing on the same date. .Dhoot has sought release on bail on the ground that his arrest was arbitrary, illegal, and in gross violation of Sections 41 and 41A of the Code of Criminal Procedure (CrPC). ."He is a senior citizen suffering from serious ailments and having undergone multiple surgeries and hospitalisation in the last seven years," advocate Sandeep Ladda, appearing for Dhoot, told the Court..Ladda further submitted that Dhoot had about 99% blockage in his heart, requiring urgent medical intervention..In his petition, Dhoot contended that the conditions for arrest without warrant under Section 41 of the CrPC have not been met. The petition also raised the following additional grounds for Dhoot's release:Dhoot had appeared before CBI on his own and on their request to co-operate with the investigation;The CBI had failed to make out a case of his non co-operation to the investigation as a reason for his arrest; andThe CBI court has carelessly and mechanically authorised the arrest, which was carried out without necessary cause or reason..The bench was also told that Dhoot had been arrested in a connected money laundering case in which he had already been granted bail by the High Court. The High Court had granted bail after observing that there were reasonable grounds to believe Dhoot was not guilty of the offences alleged against him, it was submitted..In view of these grounds, it was argued that Dhoot’s arrest was illegal and that he ought to be released on bail..Dhoot is a co-accused in a case involving former Managing Director and Chief Executive Officer (CEO) of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar.Chanda Kocchar has been accused of cheating and carrying out irregularities in the sanction of a ₹3,250 crore loan which was granted in 2012 to the Videocon Group.It is alleged that when Kochhar was at the helm of affairs at ICICI Bank, she cleared the loan for the Videocon Group of Companies. As quid pro quo, her husband's company, Nu Renewable, allegedly received an investment from Videocon.The loan later became a non-performing asset (NPA) and was termed as bank fraud.A special CBI court in Mumbai had remanded Kochhar and Dhoot to judicial custody on December 29, last year.Thereafter, Dhoot had approached the special court challenging his arrest.The special court rejected Dhoot's application on January 5, opining that it does not have the power to review its own order remanding Dhoot to custody. Aggrieved by the same, Dhoot has approached the High Court.

Videocon loan case: Bombay High Court seeks CBI reply on plea by Venugopal Dhoot challenging arrest

Neha Joshi

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