Videocon Loan Case: Arrests of former ICICI CEO Chanda Kochhar & husband Deepak Kochhar by CBI

Videocon loan case:  The Central  Bureau of Investigation had booked Chanda Kochhar in the Videocon Loan Case. The premier investigating agency of India also arrested her husband Deepak Kochhar, who is also accused in the loan fraud case along with Venugopal Dhoot of Videocon Group.

Videocon loan case: Chanda Kochhar, Deepak Kochhar and Venugopal Dhoot are the prime accused in the FIR which was registered under the Indian Penal Code sections related to criminal conspiracy as well as provisions of the Prevention of Corruption Act.

Videocon loan case:   Today the CBI arrested former ICICI Bank CEO, Chanda Kochhar and her husband Deepak Kochhar while investigating into a money laundering case which involves the bank and the Videocon Group.

Apart from the above mentioned three prime accused, the companies Nupower Renewables, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited have also been booked by the CBI as accused in the FIR.

This is the allegation

As per the allegations, Videocon promoter Venugopal Dhoot invested crores of rupees in Nupower months after the Videocon Group received t Rs 3,250 crore loan from ICICI Bank in the year 2012.

Loan sanctioning under conspiracy

The allegations also claim that the accused sanctioned certain loans for private companies acting under a criminal conspiracy with others while cheating the ICICI Bank. It was stated by the CBI after filing the FIR in the year 2019.

Also Read: Adani Foundation: Constant Search For Malnourished Kids With Their Proper Treatment in Nutrition Rehabilitation Centers

As per the reports, fifty nine-year-old Chanda Kochhar had resigned as MD and Chief Executive Officer of ICICI Bank in October 2018 following allegations that she had fraudulently favored Videocon Group.

Chanda refutes the allegation

On the other hand Chanda Kochhar refutes all allegations that have been leveled against her. In one of her statements she was heard saying, “I reiterate that no credit decision at the bank is unilateral … the organization structure and design obviate the probabilitity of conflict of interest.”