oppn parties The Kochhar-Dhoot Case: Will ED Succeed In Proving Quid Pro Quo?

Story Of The Day

Tiranga Rally Is Excellent. Breaking The Law Was Not

October 17, 2026

People Are Talking About

People Are Talking About Junk Food Near Schools

News Snippets

  • Allahabad HC said that the UP Police is acting as law unto themselves as they detained a person unlawfully even before his arrest
  • Kolkata witnesses traffic snarls on the first day of the Durga Puja festival as revellers start pnadal-hopping
  • Neha Bora was subsequently released and Dipke is to appear before a magistrate today at noon
  • Delhi Police detained Cockroach Janta Party founder Abhijeet Dipke, Neha Bora of AISA, student leaders and supporters ahead of a rally in Connaught Place demanding Chief Election Commissioner Gyanesh Kumar's resignation. The protest followed the detention and jailing of two CJP leaders earlier in the week over demonstrations at Jantar Mantar
  • The Reserve Bank of India is considering further monetary tightening to counter capital outflows and increase the cost of betting against the rupee, according to bankers and analysts cited by Reuters. The measures follow recent rate increases and steps to drain liquidity as pressure on the currency and inflation concerns persist
  • India directed oil marketing companies to stop diverting sugar-based feedstocks for ethanol production in the 2026–27 supply year, according to a new tender issued on Friday. The companies have invited bids for 11 billion litres of ethanol made from alternatives including corn and broken rice, amid concerns about domestic sugar supplies and prices
  • Finance Minister Nirmala Sitharaman said India's trade imbalance with China was growing sharply and attributed the problem partly to restrictions on Indian goods and services entering the Chinese market. China subsequently said it was ready to work with India to address mutual economic and trade concerns; India's trade deficit with China reached $69 billion in the first half of FY2026–27, up 27% year-on-year
  • Indian equity benchmarks extended their recovery on Friday, with the Sensex rising 413.66 points to close at 74,729.27 and the Nifty 50 gaining 148.80 points to settle at 23,146.15. Information technology shares, including Tech Mahindra, Infosys and TCS, helped lift the indices
  • India defeated Zimbabwe by four wickets in the opening women's T20 International in Raipur, taking a 1–0 lead in the three-match series. Deepti Sharma and Niki Prasad combined in an 82-run stand after India's top order collapsed, helping the hosts chase down Zimbabwe's total of 114 for five
  • Indian wrestler Komal won bronze in the women's 59 kg category at the Under-23 World Wrestling Championships in Las Vegas, defeating Kazakhstan's Viktoriia Khusainova 7–2. Fellow Indian Amruta Pujari advanced to the women's 72 kg final after recording two pinfall victories
  • Indian shuttler Jagsher Singh Khangurra secured a bronze medal at the BWF World Junior Badminton Championships in Cairo
  • The Supreme Court of India upheld the Bombay High Court's decision quashing the 2020 write-off of ₹8,415 crore in additional tier-1 bonds issued by Yes Bank (Yes Bank). The court ruled that the bank's administrator lacked the authority to extinguish the bonds under the final reconstruction scheme, strengthening bondholders' claims
  • The Supreme Court issued notices to the Election Commission of India, Delhi Police and opposition leaders, including Rahul Gandhi and Akhilesh Yadav, in separate petitions concerning electoral-roll revision and protests held in Delhi on October 10–12. The court also directed the preservation of CCTV footage linked to allegations of police excesses
  • The Supreme Court ruled that a person converting from Hinduism to Islam cannot automatically claim backward-class reservation benefits in the new religious community solely on the basis of their previous caste status. The judgment upheld the Madras High Court's decision striking down a 2024 Tamil Nadu government order that permitted such certification for specified communities
  • The Election Commission of India ordered a Special Summary Revision of electoral rolls in 14 states and three Union Territories, using January 1, 2027, as the qualifying date for voter eligibility. The draft rolls are scheduled for publication on November 12, claims and objections will be accepted until December 11, and the final rolls are due on January 4, 2027
Delhi HC refuses to ban CJP's Tiranga rally at Central Park in Connaught Place today /////// Police says will control and regulate it /////// NDMC closes the park for the public on Friday and Saturday
oppn parties
The Kochhar-Dhoot Case: Will ED Succeed In Proving Quid Pro Quo?

By Sunil Garodia
First publised on 2020-09-08 20:03:43

About the Author

Sunil Garodia Editor-in-Chief of indiacommentary.com. Current Affairs analyst and political commentator. Author of Cyber Scams in India, Digital Arrest, The Money Trap and The Human Hack

With the details of the alleged shady transactions between the Videocon group and Deepak Kochhar, the husband of the discredited former chief of ICICI Bank Chanda Kochhar, in the public domain for a long time now, it was just a matter of time before he was arrested. That the Enforcement Directorate (ED) arrested him just before filing the chargesheet shows that it was waiting to tie up the loose ends (since it was a high profile case) and establish the money trail before laying its hands on him. Since it was on the job, it was unlikely that Kochhar could have tampered with or erased the transactions that were largely done through banks. In any case, the fact that money was paid was established long back; the main task of the investigating agencies is to prove the quid pro quo, without which the Kochhar's can continue to claim that they were perfectly legal business deals that had no connection to the loan that the ICICI Bank granted to Venugopal Dhoot and Videocon as lead bankers in a consortium. It seems that the ED has established the money trail that was routed through a maze of corporate entities, trusts and offshore tax havens.

The Enforcement Directorate claims that they were forced to take Kochhar into custody as he refused to cooperate. They say that both the Kochhar's and Dhoot have been evasive and are not answering specific questions to prove the quid pro quo as established by the money trail. They say that they will move against Chanda Kochhar too. Obviously, no one, not even a petty criminal admits his crime easily. Here we are talking about alleged white-collar criminals. They are hard-nosed businessmen and finance professionals and are being advised by top lawyers and financial wizards. They know that no one can be forced to testify against himself or herself. They know very well that Article 20(3) of the Indian constitution grants them immunity against self-incrimination and they will use it wisely. They will never confess and keep on claiming that the money changed hands in business deals that were perfectly above board. It is upon the investigating agencies now to prove that the amounts received by the Kochhar's were bribes for sanctioning the loan and not part of any business deal. 

Other Stories You Make Like

Editorials

Growth Without Jobs Is a Warning

Growth Without Jobs Is a Warning

 Delhi Curbs: Has The Government Panicked?

Delhi Curbs: Has The Government Panicked?

In Depth

Grounds Of Arrest: The Supreme Court's Rule Must Be Followed By The Police On The Ground

Grounds Of Arrest: The Supreme Court's Rule Must Be Followed By The Police On The Ground

Editor's Pick

For the Goonj to Reverberate, Rahul Gandhi Must Take Regional Parties Along

For the Goonj to Reverberate, Rahul Gandhi Must Take Regional Parties Along
© 2014 India Commentary. All rights reserved.