CBI produces former ICICI head Chanda Kochhar, husband in Videocon loan case
The CBI lawyer in the court said that they have arrested accused number four and five, as per the First Investigation Report registered with them.
The CBI lawyer in the court said that they have arrested accused number four and five, as per the First Investigation Report registered with them.
The ED alleges that Kochhar, while heading ICICI Bank, illegally routed crores of rupees to NuPower Renewables Ltd, a company run by her husband.
The case is related to the alleged irregularities and corrupt practices in the sanction of a Rs 1,875 crore loan disbursed by ICICI Bank to the Videocon Group during 2009 and 2011.
The board set up by the bank has also decided to take steps for 'clawback of all bonuses paid to her between April 2009 and March 2018, and to take such further actions as may be warranted in the matter'.
The Enquiry Report also concluded her lack of diligence with respect to annual disclosures as required by the bank in terms of its internal policies, the ICICI Bank code of conduct and applicable Indian laws, rules and regulations on her interest (direct or indirect) toward avoidance of conflict of interest.
The Central Bureau of Investigation (CBI) on Thursday registered a case against former ICICI CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon Group chairman Venugopal Dhoot in the loan case.
Chanda Kochhar stepped down in October last year after she was accused of conflicts of interest, lack of disclosures and quid pro quo while extending loans to the now-bankrupt Videocon Industries.
It is alleged that Videocon Group chairman Venugopal Dhoot had given a loan of Rs 64 crore to a firm he had jointly promoted with Deepak Kochhar, six months after his group got the Rs 3,250 crore loan.
The questioning of Rajiv Kochhar, ICICI Bank MD and CEO Chanda Kochhar’s brother-in-law, by the CBI, started on the third…
