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ICICI-Videocon loan fraud case: Bombay High Court grants bail to Chanda Kochhar, husband Deepak Kochhar

The court stated that their arrest was not in conformity with provisions of law and this warrants their release.

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Chanda Kochhar, husband Deepak Kochhar

The Bombay High Court on Monday granted bail to former managing director and chief executive officer (CEO) of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar in an alleged ICICI Bank-Videocon loan fraud case.

The court ruled that their arrest was not in accordance with the law and that they should be released. The couple was arrested by the Central Bureau of Investigation (CBI) on December 23 in an alleged money laundering case involving Videocon Group promoter Venugopal Dhoot.

The couple had sought temporary bail to attend their son’s wedding, which is to be held on January 15. They referred to the CBI’s arrest as illegal in their bail petition and argued that no sanction had been obtained, as needed under provisions of the Prevention of Corruption Act.

Advocate Kushal Mor, representing the Kochhars’ said the former ICICI Bank CEO was arrested after a perfunctory interrogation and that a female officer was not present at the time of her arrest, as is mandated by law.

Read Also: 2 Bihar men arrested for drunken brawl in Delhi-Patna IndiGo flight

According to the CBI, after Chanda Kochhar took over as MD and CEO, the bank sanctioned rupee term loans (RTL) worth Rs 1,875 crores to six companies of the Videocon Group between June 2009 and October 2011. As a quid pro quo, Videocon invested in her husband Deepak’s company, NuPower Renewable.

During the initial investigation, it was found that between June 2009 and October 2011, six loans totaling Rs 1,875 crore were approved for the Videocon Group and businesses affiliated with it, allegedly in violation of ICICI Bank’s established norms.

The reports state the loan was waived off on September 7, 2009, and, the next day, Videocon Group – via its firm, Supreme Energy Private Limited, transferred Rs 64 crore to NuPower Renewables Limited.

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Delhi-NCR weather update: North India battles cold wave, dense fog, minimum temperature recorded at 3.6 degrees in capital

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Har Jarurat Hogi Puri: Congress releases campaign song ahead of Delhi elections

Congress leaders, including Delhi Chief Devendra Yadav and national spokesperson Pawan Khera, expressed confidence in the anthem’s impact, emphasising its ability to capture the public mood and convey the party’s commitment to resolving Delhi’s pressing issues.

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The Congress party launched its campaign anthem, “Har Jarurat Hogi Puri, Dilli Mein Congress Hai Jaruri” (“Every Need Will Be Fulfilled, Congress is Essential in Delhi”), on Thursday, marking a significant step in its strategy for the upcoming Delhi Assembly elections.

The 2-minute 48-second song serves as a potent weapon in the party’s arsenal, aiming to capture the attention of Delhi’s electorate and sway their votes in its favour.

The anthem’s lyrics directly confront the ruling Aam Aadmi Party (AAP) and the opposition Bharatiya Janata Party (BJP), highlighting the prevalent disillusionment among Delhi’s residents regarding the current governance.

It boldly addresses critical local issues, painting a vivid picture of the city’s shortcomings under AAP’s rule. The polluted Yamuna River and the subpar quality of drinking water serve as central themes, with the powerful line “Yamuna Saaf Nahi, Pani Na Saaf Hai” (The Yamuna is not clean, the water is not clean) encapsulating the public’s growing discontent.

Beyond highlighting the existing problems, the Congress anthem meticulously outlines its own vision for Delhi, presenting a compelling alternative to the incumbent AAP government. The party pledges free electricity for households consuming up to 300 units, a promise designed to resonate with the city’s residents struggling with rising energy costs.

The ambitious “Pyari Didi Yojana,” promising a monthly allowance of Rs 2,500 to women from low-income families, aims to further strengthen the Congress’ appeal among the electorate.

Addressing the widespread concern about women’s safety in the city, the anthem criticizes the AAP government’s perceived lack of focus on this crucial issue, arguing that despite promises, women continue to feel unsafe. This pointed critique underscores the Congress’ commitment to addressing this critical aspect of governance, distinguishing its approach from its rivals.

The release of the anthem is strategically timed, closely following the BJP’s launch of its campaign song, “Jo Ram Ko Lekar Aaye Unka Raj Hoga Dilli Mein” (“Those who carry Ram will rule Delhi”). The timing underscores the intensity of the upcoming electoral battle, with both the Congress and BJP vying for the support of Delhi’s voters.

Congress leaders, including Delhi Chief Devendra Yadav and national spokesperson Pawan Khera, expressed confidence in the anthem’s impact, emphasising its ability to capture the public mood and convey the party’s commitment to resolving Delhi’s pressing issues.

The anthem’s release signifies the Congress party’s full-fledged entry into the electoral fray, setting the stage for a closely contested election on February 5th, with results due on February 8th. Over 1.5 crore voters will play a crucial role in deciding the fate of the 70-member Delhi Assembly.

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India always open to legitimate return of undocumented Indians: Jaishankar on US deportation

He stressed that India is diligently verifying the citizenship of each individual before confirming their eligibility for repatriation.

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External Affairs Minister S. Jaishankar addressed the ongoing discussion surrounding the potential deportation of undocumented Indians from the United States. He clarified India’s position, emphasising a commitment to facilitating the legal movement of Indian citizens globally while firmly opposing illegal immigration.

This stance, he underscored, is not unique to the United States but reflects India’s consistent and principled approach to managing undocumented citizens worldwide.

Jaishankar acknowledged the ongoing dialogue with the U.S. government regarding the repatriation of Indians who are either undocumented or have overstayed their visas. However, he cautioned against accepting unverified figures circulating in news reports, particularly those suggesting a specific number of individuals facing deportation.

He stressed that India is diligently verifying the citizenship of each individual before confirming their eligibility for repatriation.

“As a government, we wholeheartedly support legal mobility, recognizing the importance of a globalized workforce,” Jaishankar stated. “We want Indian talent and skills to flourish on a global scale. However, we maintain a firm stance against illegal mobility and migration.”

He explained that illegal activities often intertwine with other illegal actions, leading to undesirable consequences and reputational damage.

He highlighted India’s consistent willingness to cooperate with other nations to facilitate the legitimate return of its citizens found to be in violation of immigration laws. This commitment extends to the United States, where India is working to verify the citizenship of those potentially facing deportation. The process, he stressed, requires thorough verification to ensure that only genuine Indian citizens are repatriated.

Jaishankar also used the opportunity to raise concerns about excessively long visa processing times, which he argued negatively impacted the bilateral relationship. He shared these concerns directly with U.S. Secretary of State Marco Rubio, emphasising the need for streamlined processes that facilitate legal and mutually beneficial mobility between the two nations. Rubio, Jaishankar noted, acknowledged the validity of these concerns.

In summary, India’s position remains steadfast: a commitment to global mobility for its citizens within the bounds of the law, coupled with a firm stance against illegal immigration. While cooperating with the U.S. on repatriation efforts, India prioritises accurate verification of citizenship to ensure the legitimate return of its citizens. Simultaneously, the government advocates for improvements in visa processing times to bolster the mutually beneficial relationship between the two countries.

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Delhi elections: Kejriwal promises to end unemployment in capital within five years

He highlighted the creation of 48,000 government jobs and the facilitation of over 300,000 private-sector jobs in less than two years.

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Aam Aadmi Party (AAP) national convenor Arvind Kejriwal made a bold promise to the people of Delhi on Thursday: the eradication of unemployment within five years. With the Delhi Assembly elections looming just two weeks away, Kejriwal’s pledge forms a central plank of the AAP’s campaign platform.

In a recent video message, he underscored his commitment to job creation, emphasizing that this issue represents his top priority. He revealed that his team is diligently working on a detailed plan to tackle the multifaceted problem of unemployment in the nation’s capital.

Kejriwal pointed to the AAP government’s performance in Punjab as a testament to their ability to deliver on this promise. He highlighted the creation of 48,000 government jobs and the facilitation of over 300,000 private-sector jobs in less than two years.

This track record, he argued, demonstrates their understanding of job creation strategies and their genuine commitment to addressing unemployment. He expressed confidence that with the support of the Delhi electorate, the AAP can replicate and even surpass this success in the national capital.

The upcoming elections, scheduled for February 5th, with results to be announced on February 8th, will be a crucial test of this ambitious pledge. The AAP is seeking an unprecedented third consecutive term in power, facing a strong challenge from the BJP.

Beyond his focus on employment, Kejriwal has also unveiled a comprehensive seven-point “middle-class manifesto,” aimed at addressing the concerns of this vital segment of the population.

This manifesto includes demands for a significant increase in the education budget (from 2% to 10%), coupled with regulations on private school fees. He also advocates for subsidies and scholarships for higher education, mirroring the AAP’s commitment to accessible and affordable education.

In the realm of healthcare, Kejriwal calls for a similar increase in the health budget (to 10%) and the removal of taxes on health insurance. Further proposals include raising the income tax exemption limit from ₹7 lakh to ₹10 lakh, removing GST from essential items, and implementing robust retirement and pension plans along with free healthcare for senior citizens in both public and private hospitals.

Finally, he has called for the reinstatement of a 50% railway concession for senior citizens. These proposals, unveiled weeks before the elections, showcase the AAP’s comprehensive approach to addressing the concerns of the middle class and position them for a strong electoral contest.

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