India

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.”

Parijat Tripathi

Recent Posts

Rajasthan CM Bhajan Lal Sharma Prioritizes Youth Employment

Rajasthan CM Bhajan Lal Sharma reaffirmed state government’s commitment to prioritizing employment for youth during…

7 mins ago

Strong Earthquake Hits New Britain Region In Papua New Guinea

A powerful earthquake measuring 6.9 on the Richter scale struck the New Britain region of…

16 mins ago

PM Modi Meets Bhutan PM Tobgay At BIMSTEC Summit; Highlights Strong Bilateral Ties & Regional Cooperation

PM Narendra Modi met Bhutanese PM Tshering Tobgay on the sidelines of the 6th BIMSTEC…

8 hours ago

Jamia Students Back Waqf Amendment Bill; Call It A Step Toward Empowerment

The student group 'Shaher-E-Arzoo' expressed firm support for the Waqf Amendment Bill, calling it a…

11 hours ago

India’s Exports To The US Face Limited Impact From Tariff Hike: SBI Report

The 27% tariff hike by US President Donald Trump on Indian goods will have only…

11 hours ago

Waqf Freed From Mafia Control, New Era Of Development Begins For Muslims: MRM

Following the passage of the Waqf Amendment Bill 2024 in both Houses of Parliament, celebrations…

12 hours ago