Videocon Industries, ICICI Bank shares fall up to 3% after CBI registers FIR in loan case

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Updated: January 24, 2019 6:14:00 PM

Shares of Videocon Industries and ICICI Bank fell by up to 3 per cent on Thursday after the CBI registered an FIR against former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group MD Venugopal Dhoot in relation to a loan case.

sensex, bse, nseWhile Videocon Industries’ shares declined 2.73 per cent, ICICI Bank stock fell by 0.72 per cent to close at Rs 365 on the BSE.

Shares of Videocon Industries and ICICI Bank fell by up to 3 per cent on Thursday after the CBI registered an FIR against former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group MD Venugopal Dhoot in relation to a loan case.

While Videocon Industries’ shares declined 2.73 per cent, ICICI Bank stock fell by 0.72 per cent to close at Rs 365 on the BSE.

Also read: CBI books Chanda Kochhar as accused in ICICI Bank-Videocon loan case

The investing agency has alleged that certain loans were sanctioned to the private firms by the accused in a criminal conspiracy with other accused to cheat the ICICI Bank. Earlier today, news reports said that the CBI carried out searches at the group headquarters in Mumbai and offices in Aurangabad in Rs 3,250 crore loan case.

The search operation covered offices of Nupower, a company operated by ICICI Bank’s former CEO Chanda Kochhar’s husband Deepak Kochhar and Supreme Energy, the reports said.

Videocon promoter Venugopal Dhoot has been alleged to have invested crores of rupees in Nupower months after the Videocon group got Rs 3,250 crore as loan from the ICICI Bank in 2012.

Meanwhile, the 30-share index, after opening higher at 36,146.55 points, slipped into the negative terrain to crack below the 36,000-mark. Similarly, the 50-share NSE Nifty closed higher by 18.30 points, or 0.17 per cent, at 10,849.80 after shuttling between 10,866.35 and 10,798.65.

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