Former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar were sent to CBI custody till Monday (December 26) in relation to the alleged cheating and irregularities in loans sanctioned by the bank to the Videocon Group of Companies in 2012.
Just a day earlier, the Central Bureau of Investigation (CBI) apprehended former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar in connection with the Videocon Fraud loan case. The loan to Videocon turned into a Non Performing Assets (NPA) and later was called bank fraud.
What was the 'Videocon Fraud loan case'?
According to reports, Videocon promoter Venugopal Dhoot allegedly invested crores of rupees in Nupower months after the Videocon Group got Rs 3,250 crore as a loan from ICICI Bank in 2012, they said.
It was alleged that the accused sanctioned certain loans to private companies in a criminal conspiracy with others to cheat ICICI Bank, the CBI had said in a statement after filing the FIR in 2019.
Notably, the Enforcement Directorate (ED) had also registered the money laundering case following an FIR registered by the CBI against the Kochhar couple, Dhoot, and others.
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