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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.

Railways cancel over 250 trains, 118 flights delayed as cold wave grips North India

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

India News

Delhi-NCR sees second spell of rain and thunderstorms in four days

Delhi-NCR experienced another spell of rain and thunderstorms on March 18, with IMD forecasting more showers over the next few days.

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Delhi and parts of the National Capital Region witnessed another spell of rain, thunderstorms, and strong winds on Wednesday evening, marking the second such weather event in the past four days.

The sudden change brought relief from unusually high temperatures recorded earlier this month. According to officials, the temperature at Safdarjung — the city’s base weather station — was recorded at 24 degrees Celsius at 7 pm.

The India Meteorological Department had earlier issued an alert predicting light to moderate rainfall accompanied by thunderstorms and lightning on March 18. Several areas across the capital experienced gusty winds along with brief but intense showers.

More rain likely over next two days

The weather department has forecast partly cloudy skies for March 19 and 20, with chances of light rain or thundershowers occurring once or twice during the day. On March 21, skies are expected to remain cloudy with the possibility of light showers continuing.

Conditions are likely to stabilise from March 23 onwards, with forecasts indicating a return to partly cloudy to clear skies across the region.

Weather activity across India to intensify

The IMD has also indicated widespread weather activity across multiple regions of the country in the coming days. Rainfall is expected to intensify in several states, accompanied by thunderstorms, lightning, and gusty winds.

In the northeastern region, heavy rainfall is likely over Arunachal Pradesh, Assam, and Meghalaya during the early part of the week.

Meanwhile, the western Himalayan region is also set to witness a shift in weather patterns. Himachal Pradesh is likely to receive heavy rainfall on March 19 and 20, while Uttarakhand and Jammu and Kashmir may experience heavy showers around March 20.

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India News

BJP seals Assam seat-sharing pact, Modi to hold 3 rallies in April

BJP has finalised its Assam seat-sharing plan with allies and is gearing up for an intense campaign led by PM Modi and Amit Shah.

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The Bharatiya Janata Party has finalised its seat-sharing arrangement for the upcoming Assam Assembly elections, firming up its strategy alongside National Democratic Alliance partners as campaigning gathers pace in the state.

Under the agreement, the BJP will contest 89 seats, while its allies — Asom Gana Parishad and Bodoland People’s Front — will field candidates in 26 and 11 constituencies respectively. The distribution has been decided after internal deliberations, with the focus now shifting to candidate announcements and campaign execution.

Campaign push led by top leadership

Prime Minister Narendra Modi is expected to address three rallies in Assam during the final leg of the campaign. Tentative dates for the rallies are April 1, April 3 and April 6, with events likely to be held in key constituencies.

Union Home Minister Amit Shah is also set to spearhead an extensive campaign across the state through March, aiming to energise party workers and strengthen voter outreach.

Candidate selection underway

The party’s Central Election Committee is currently meeting to finalise candidates. Sources indicate that approvals for most constituencies are expected soon, and the BJP may release its complete list of candidates within the next two days.

Ticket distribution remains a crucial exercise, with internal discussions highlighting its potential impact on local political dynamics. Party leaders have also touched upon the proposed delimitation exercise scheduled for 2027, which is expected to have long-term implications for Assam’s electoral landscape.

Polling and counting dates

Voting for all 126 Assembly seats in Assam is scheduled for April 9, while the votes will be counted on May 4.

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India News

Delhi Palam fire leaves 6 dead, massive rescue operation underway

Six people died after a fire broke out in a residential building in Delhi’s Palam. Firefighters continue rescue efforts with 30 tenders at the spot.

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Delhi's palam

A tragic fire incident in southwest Delhi’s Palam area on Wednesday morning claimed the lives of six people, triggering a large-scale emergency response.

According to officials, the blaze erupted in a residential building, prompting immediate action from fire and police authorities. Around 30 fire tenders were rushed to the spot to control the flames and carry out rescue operations.

Authorities said they received a distress call at approximately 7 am reporting the fire at a house within the building. Firefighters were deployed swiftly amid concerns that several residents could be trapped inside the structure.

A fire services official stated that initial information suggested people might still be inside, leading to an intensive search and rescue effort. Emergency teams, including police personnel, reached the congested locality to assist in evacuation and crowd management.

The firefighting operation was still ongoing at the time of reporting. The exact cause of the fire has not yet been determined, and further details are awaited as authorities continue their investigation.

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