November 03, 2024 01:13 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Andhra Pradesh: Three-year-old girl raped and murdered by relative in Tirupati | Two terrorists killed in encounter with security forces in Kashmir's Anantnag | Bengal: 5-year-old girl raped and murdered in Alipurduar, accused beaten to death by angry villagers | Kashmir: Encounter breaks out between security forces and terrorists in Srinagar | Mumbai Police initiates extradition process to bring back Lawrence Bishnoi's brother Anmol Bishnoi from US
Ex-ICICI Bank CEO Chanda Kochhar, husband Deepak arrested in loan fraud case
Chanda Kochhar

Ex-ICICI Bank CEO Chanda Kochhar, husband Deepak arrested in loan fraud case

| @indiablooms | 23 Dec 2022, 10:21 pm

New Delhi: The Central Bureau of Investigation (CBI) Friday arrested former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar in connection with a case linked to alleged irregularities in an over Rs. 3,000-crore loan provided to the Videocon Group when she was heading the private sector bank.

Chanda Kochhar, 59, had quit as CEO and managing director of ICICI Bank in October 2018 over allegations that she favoured Videocon Group, a consumer electronics and oil and gas exploration company.

The CBI alleged that she violated the bank's code of conduct and internal policies.

She has been accused of criminal conspiracy and cheating by the probe agency for alleged irregularities in a loan of Rs. 3,250 crores in 2012 to the Videocon Group, which became a non-performing asset for the ICICI Bank.

A whistleblower alleged that Kochhar's husband Deepak Kochhar and her family members benefited from the dealings.

Last year, the ED had filed a criminal case under the Prevention of Money Laundering Act (PMLA) Chanda Kochhar, her husband and Venugopal Dhoot of Videocon Group to investigate alleged irregularities and corrupt practices in sanctioning ₹ 1,875 crore in loans by ICICI Bank.

The probe agency had also attached assets worth Rs. 78 crore in connection with a money laundering case.

As per reports, since Deepak Kochhar was not cooperating with the agency, therefore he was placed under arrest.

Reports said Dhoot had provided Rs 64 crore to a firm called NuPower Renewables Pvt Ltd that he had set up with Deepak and two relatives six months after the Videocon group got Rs 3,250 crore as loan from ICICI Bank in 2012. Rs 2,810 crore of the loan remains unpaid.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.