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The witness, “an independent director in about 20 Videocon Group companies”, alleged Deepak threatened Dhoot, asking him to switch the possession of the CCI Chambers flat to his household or Chanda Kochhar would declare Videocon Group accounts with ICICI Bank as NPA (non-performing asset).
The 11,000-page CBI chargesheet towards former ICICI Bank CEO Chanda Kochhar and others within the Rs 3,250 crore mortgage fraud case consists of the assertion of a witness who quoted Videocon Group promoter V N Dhoot as telling Deepak Kochhar throughout an argument over the best to a flat that “Chanda would land up sharing a room with Indrani Mukerjea.”
According to the chargesheet, the witness, “an independent director in about 20 Videocon Group companies,” noticed a heated argument escape between Deepak Kochhar and V N Dhoot over possession of a CCI Chambers flat. The witness alleged Deepak threatened Dhoot, asking him to switch the flat’s possession to his household or Chanda Kochhar would declare Videocon Group accounts with ICICI Bank as NPA (nonperforming asset).
Dhoot, the witness alleged, stated, “Do not transfer the flat in such a way as Chanda would be in trouble one day and would land up in (sic) sharing room with Indrani Mukherjea.” At this, Deepak Kochhar “became very angry and told V N Dhoot that (sic) listen to his advice otherwise he would ruin him,” the witness stated.
Indrani Mukerjea, accused in a 2012 homicide, was in jail and is now out on bail.
The 45 CCI Chambers flat was bought in 1996 for Rs 5.25 crore within the identify of Credential Finance Ltd, wherein Videocon Group had substantial shares together with Chanda and Deepak Kochhar. Credential Finance defaulted on a Rs 4.7 crore mortgage of SBI Home Finance, for which the residence was positioned on safety. In 2009, Videocon Group paid the SBI dues and transferred possession of the residence to its group firm, Quality Appliances Pvt Ltd. In 2016, all shares of Quality Appliances Pvt Ltd have been acquired by Deepak Kochhar’s belief Quality Advisors by paying Rs 11 lakh.
The CBI requested the witness about an argument between Dhoot and Deepak at Hotel Oberoi in his presence. The witness instructed the CBI that someday in 2016, Dhoot referred to as him to the resort for some documentation work. It was right here that the “nasty altercation” was on, he stated.
“Deepak Kochhar was telling (sic) that the flat at 45 CCI Chambers belongs to him. V N Dhoot told him that he paid Rs 5.38 crore to SBI Home Finance Ltd and released the title of flat, as such it belonged to him. He has allowed him to stay free of cost, it does not mean it is Deepak’s flat. Deepak Kochhar became infuriated and told V N Dhoot to sell all the shares of Quality Appliance Pvt Ltd at face value of Rs 11 lakh, this way flat would be transferred to his family trust Quality Advisor, otherwise Chanda would declare his loan accounts with ICICI Bank NPA.”
The chargesheet additionally stated there was belief deficit between Dhoot and Deepak, due to which the previous earlier appointed his proxy together with an ex-BMC commissioner on the board of the latter’s firm.
A witness instructed CBI that someday in 2010, Dhoot instructed him that as he had made an funding of Rs 64 crore in NuPower Renewables Ltd (NRL), Deepak Kochhar was following up with him for extra investments to extend wind energy capability.
The witness stated, “To avoid the uncomfortable situation with Deepak Kochhar, he (Dhoot) told me that on paper (being proxy shareholder for V Dhoot), he will sell his Equity Shares in SEPL to me. Dhoot had already resigned from the directorship of SEPL, but to control and safeguard his investment in the company, he got me and one Karun Chandra Srivastava (IAS, ex-commissioner ofBMC) appointed on the board of NRL in 2009.”
In 2009, VN Dhoot invested Rs 64 crore in SEPL within the type of a mortgage from Videocon Industries Ltd.
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