Mumbai: A special CBI court in Mumbai sentenced former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar, and Videocon group founder Venugopal Dhoot to 14 days in judicial custody on Thursday in connection with a loan fraud case.

All three defendants have been placed in judicial custody until January 10, 2023.

The three were produced before special judge S H Gwalani at the end of their previous remand on Thursday. The CBI, represented by special public prosecutor A Limosin, did not seek further custody of the suspects.

The Kochhars were arrested by the Central Bureau of Investigation (CBI) on Friday, while Dhoot of Videocon was arrested on Monday.

In its FIR filed in 2019 under Indian Penal Code sections related to criminal conspiracy and the Prevention of Corruption Act, the CBI named the Kochhars and Dhoot, as well as companies Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy Private Limited (SEPL), Videocon International Electronics Ltd (VIEL), and Videocon Degree Industries Limited, as accused.

The CBI claims that ICICI Bank granted credit facilities totaling Rs 3,250 crore to Videocon Group companies promoted by Dhoot Ventures in violation of the Banking Regulation Act, RBI guidelines, and the bank's credit policy.

According to the CBI, in 2009, a sanctioning committee led by Chanda Kochhar approved a Rs 300 crore term loan to VIEL in violation of the bank's rules and policies by abusing her official position as a public servant.

Dhoot transferred Rs 64 crore from VIEL to NRL through SEPL the day after the loan was disbursed.

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