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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.

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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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Pralhad Joshi appointed Education Minister after Dharmendra Pradhan’s resignation

Pralhad Joshi has been entrusted with the additional charge of the Education Ministry after President Droupadi Murmu accepted Dharmendra Pradhan’s resignation amid the prolonged student protests over alleged examination paper leaks.

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Union Minister Pralhad Joshi has been given the additional charge of the Ministry of Education after President Droupadi Murmu accepted the resignation of Dharmendra Pradhan.

The President’s office confirmed the appointment through an official communique issued on Saturday evening. Joshi will continue to hold his existing portfolio as Union Minister of Food and Consumer Affairs while also overseeing the Education Ministry.

Dharmendra Pradhan resigns amid prolonged protests

Dharmendra Pradhan submitted his resignation on the 35th day of the student protests at Delhi’s Jantar Mantar over alleged examination paper leaks.

In his resignation letter, the 57-year-old leader said he chose to step down to prevent anti-national forces from exploiting the situation.

“For over four decades, I have dedicated myself to the cause of students, teachers, and educational reform. I have always believed that a robust, inclusive, and visionary education system forms the cornerstone of a strong nation,” Pradhan said.

CJP ends protest after Centre’s assurance

Hours after Pradhan’s resignation, CJP spokespersons Saurav Das and Ashutosh Ranka, during a joint press conference with Union ministers JP Nadda and Jitendra Singh, announced that the organisation was ending its protest in good faith after receiving assurances from the Centre that its demands would be addressed.

The resignation of Dharmendra Pradhan had been the principal demand of the organisation founded by Abhijeet Dipke, a Boston University graduate who returned to India to lead the campaign against alleged examination paper leaks.

Joshi reiterates government’s stand on students

A day before taking charge of the Education Ministry, Pralhad Joshi said the Centre remained committed to protecting students’ interests and ensuring strict action against irregularities affecting examinations.

He also alleged that anti-social elements were attempting to exploit the CJP-led protests and urged students to remain vigilant while continuing peaceful demonstrations.

“The Modi government has always stood with students and the youth. It remains committed to taking strict action against any irregularities or injustices that affect their future,” Joshi had said.

He added that while students have every right to protest peacefully, they should ensure that their genuine concerns are not misused by anti-social elements.

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Dharmendra Pradhan submits resignation to PM Modi amid student protests

Education Minister Dharmendra Pradhan has submitted his resignation to Prime Minister Narendra Modi, hours before the third round of talks between the Centre and the Cockroach Janta Party.

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Dharmendra Pradhan

Education Minister Dharmendra Pradhan on Saturday submitted his resignation to Prime Minister Narendra Modi, marking a major development amid the ongoing student protests at Delhi’s Jantar Mantar.

Pradhan announced the decision through a post on X, just hours before the Centre was scheduled to hold the third round of talks with the Cockroach Janta Party (CJP), which has been leading the agitation over alleged irregularities in competitive examinations.

The resignation of the Education Minister had remained the primary demand of the protesters, who have been camping at Jantar Mantar for more than a month seeking accountability and reforms in the examination system.

The latest development comes at a crucial time as both sides prepare for another round of discussions aimed at resolving the prolonged standoff.

As of now, there has been no official announcement from the Prime Minister’s Office on whether Pradhan’s resignation has been accepted. Further details are awaited.

Resignation comes before key Centre-CJP meeting

The announcement was made only hours before representatives of the Centre and the Cockroach Janta Party were expected to meet for the third round of negotiations.

The talks are being closely watched as the government attempts to end the month-long protest, with the resignation of Dharmendra Pradhan remaining one of the protesters’ central demands.

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PM Modi’s Instagram reel on exam paper leaks crosses record 303 million views amid Jantar Mantar protests

Prime Minister Narendra Modi’s direct video address addressing exam paper leaks has crossed 303 million views on Instagram amid student demonstrations at Jantar Mantar.

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Prime Minister Narendra Modi has crossed a global digital milestone, with a single Instagram reel gathering over 303 million views within a 24-hour period. The massive social media turnout eclipsed the previous global record of 300 million views. The digital milestone unfolded against the backdrop of ongoing demonstrations by thousands of youth and student protesters gathered at New Delhi’s Jantar Mantar demanding systemic reforms and accountability following examination malpractices.

Following the high engagement on his initial post, the Prime Minister released a follow-up video message titled “Thank you friends” to express gratitude to young citizens for their constructive suggestions and feedback.

Late-night message addresses student concerns

The record-breaking digital engagement began with a rare late-night selfie video posted by Prime Minister Modi. In the clip, he directly addressed public anxieties regarding examination paper leaks and promised strict executive action against offenders.

By utilizing a direct video format aimed at connecting with younger demographics, the Prime Minister emphasized that the administration treats competitive exam malpractices with extreme seriousness rather than as a minor issue.

Cabinet plans fast-track courts and strict penalties

Detailing actions undertaken over the preceding two and a half months, the Prime Minister stated that the primary objective of the administration has been protecting candidates from losing an academic year. He highlighted the extensive administrative coordination required to arrange re-examinations swiftly for affected candidates.

Furthermore, Prime Minister Modi announced that the Union Cabinet will move forward with a strict legal framework. The proposed measures include establishing fast-track courts and imposing harsh penalties on individuals or criminal syndicates involved in leaking examination papers.

The initial late-night communication generated a surge of approximately one million new followers on the Prime Minister’s profile overnight. In his follow-up statement, PM Modi appreciated the active dialogue created among the youth, remarking that citizen engagement helps strengthen governance.

“This love of yours will remain, and our bond will continue to connect with even more vibrancy,” the Prime Minister stated, thanking supporters for their active involvement.

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