CBI arrests ex-ICICI Bank CEO Chanda Kochhar, husband Deepak Kochhar in Videocon loan fraud case

Videocon loan fraud case: The Central Bureau of Investigation (CBI), on Friday, apprehended former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by the bank to the Videocon Group of Companies in 2012. The loan to Videocon turned into a Non Performing Assets (NPA) and later was called bank fraud. 

Kochhars and Venugopal Dhoot of Videocon Group, along with companies Nupower Renewables, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited were booked by the CBI as accused.

According to officials, they were booked in the FIR registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act. 

About the case

According to reports, Videocon promoter Venugopal Dhoot allegedly invested crores of rupees in Nupower months after the Videocon Group got Rs 3,250 crore as a loan from ICICI Bank in 2012, they said.

It was alleged that the accused sanctioned certain loans to private companies in a criminal conspiracy with others to cheat ICICI Bank, the CBI had said in a statement after filing of the FIR in 2019.

Notably, the Enforcement Directorate (ED) had also registered the money laundering case following an FIR registered by the CBI against the Kochhar couple, Dhoot, and others.

ALSO READ: Videocon loan case: Deepak Kochhar, husband of ex-ICICI Bank CEO Chanda Kochhar, gets bail

Latest Business News