The Central Bureau of Intelligence (CBI) has arrested former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by the bank to the Videocon Group in 2012, officials said on Friday, 23 December.
What had happened? The CBI has booked the Kochhars and Venugopal Dhoot of Videocon Group, along with companies Nupower Renewables, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited, as accused in the First Information Report (FIR) registered under Indian Penal Code (IPC) sections related to criminal conspiracy and provisions of the Prevention of Corruption Act, as per the CBI.
What's the charge? It is alleged that Dhoot, the Videocon promoter, 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.
It was alleged that the Kochhars 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 the FIR in 2019.
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