RNS: CBI has arrested former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in connection with the alleged ICICI bank – Videocon loan fraud case.
Official sources said that they had been arrested over the allegation of cheating and irregularities in an over Rs. 3,000-crore loans sanctioned by the bank to the Videocon group in 2012 when she was heading the private sector bank.
Earlier, the agency had filed an FIR against Chanda Kochhar, Deepak Kochhar, Venugopal Dhoot of Videocon Group, and others in the matter.
Last year, the ED had filed a criminal case under the Prevention of Money Laundering Act (PMLA) Chanda Kochhar, her husband and Venugopal Dhoot of Videocon Group to investigate alleged irregularities and corrupt practices in sanctioning Rs 1,875 crore in loans by ICICI Bank.
A complainant claimed that Kochhar’s husband, Deepak Kochhar, and other family members benefited from the transactions.
In addition, the investigation agency had attached assets worth Rs. 78 crore in connection with a money laundering case.
According to reports, Deepak Kochhar was arrested because he refused to cooperate with the agency.
According to reports, Dhoot gave Rs 64 crore to a company called NuPower Renewables Pvt Ltd, which he founded with Deepak and two relatives six months after the Videocon group received a Rs 3,250 crore loan from ICICI Bank in 2012. The loan amount of Rs 2,810 crore is still outstanding.
