Videocon loan case: Former ICICI Bank CEO Chanda Kochhar, her husband sent to CBI custody till December 26
On Friday, the Kochhars were called to the agency headquarters and arrested after a brief questioning session. The CBI has alleged that they were evasive in their responses and did not cooperate in the investigation.
FollowA Mumbai court on Saturday (December 24) remanded former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in the custody of the Central Bureau of Investigation (CBI) till December 26 in connection with alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies.
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On Friday, the Kochhars were called to the agency headquarters and arrested after a brief questioning session. The CBI has alleged that they were evasive in their responses and did not cooperate in the investigation.
Reports said that the agency is likely to move at a swift pace to file the first charge sheet in the case, in which the Kochhars could be named along with Venugopal Dhoot of Videocon Group.
The CBI had named the Kochhars and Dhoot, along with companies Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited, as accused in the FIR registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act in 2019, they said.
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The CBI had alleged that ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.
It was also alleged that as a part of the quid pro quo, Dhoot made an investment of Rs 64 crore in Nupower Renewables through Supreme Energy Pvt Ltd (SEPL) and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012.
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It is alleged that during the tenure of Chanda Kochhar at ICICI Bank, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies during 2009-11. In two cases, she was on the sanctioning committees, according to the FIR.
Chanda Kochhar was on the sanctioning committee deciding two loans -- Rs 300 crore to Videocon International Electronics Limited (VIEL) on August 26, 2009, and Rs 750 crore to Videocon Industries Limited on October 31, 2011, it has alleged. The loans were issued in alleged violation of laid-down policies and regulations of the bank, the FIR alleged.
(With inputs from PTI)
