Chanda Kochhar, former CEO and Managing Director of the ICICI Bank, and her husband Deepak Kochhar were arrested by the CBI on Friday. The arrests were made for Kochhars’ alleged role in the Videocon loan case. The charges include irregularities in loans and cheating in the Videocon case, which dates back to 2012.
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Chanda Kochhar, her husband and Videocon Group’s Venugopal Dhoot were booked by the CBI under the sections of the Indian Penal Code. These sections are related to the Prevention of Corruption Act and criminal conspiracy, the CBI officials said.
It is alleged that Videocon promoter Venugopal Dhoot allegedly invested crores of rupees in Nupower months after the Videocon Group got Rs 3,250 crore as loan from ICICI Bank in 2012, they said. Chanda Kochhar is accused of sanctioning some loans to private entities in a criminal conspiracy along with others. The 2019 FIR by the CBI states that the alleged conspiracy was to cheat the ICICI Bank.
(With inputs from PTI)