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ICICI-Videocon loan case: CBI books Chanda Kochhar, husband

ANI  |  Politics 

The Central Bureau of Investigation (CBI) on Thursday booked former CEO and MD of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar for criminal conspiracy in an alleged loan fraud case.

Along with the duo, V N Dhoot, MD of Videocon Group, M/s. Nupower Renewables Ltd. (NRL), M/s. Supreme Energy Pvt. Ltd. (SEPL), M/s. Videocon International Electronics Ltd. (VIEL), M/s. Videocon Industries Ltd. (VIL), and others.

Cases were filed under Section 120-B read with 420 and some other sections of the IPC as raids were conducted by the investigative agency in four places in Mumbai and Aurangabad, the CBI said.

It was alleged that the accused sanctioned certain loans to private companies in a criminal conspiracy with other accused to cheat ICICI Bank.

CBI had registered preliminary enquiry against Deepak Kochhar, and Venugopal Dhoot, chairman of Videocon group, to investigate irregularities in the Rs 40,000 crore loan granted by a consortium of lenders.

Chanda Kochhar has been accused of misusing her position in the company after she allegedly provided a Rs. 3,250 crore loan to the Videocon group on quid pro quo basis in 2012.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 24 2019. 10:03 IST