CBI books Chanda Kochhar, husband Deepak in ICICI Bank-Videocon case

New Delhi/Mumbai, January 24

The CBI has booked former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group MD Venugopal Dhoot for alleged cheating and corruption in sanctioning loans to the group in 2012, the agency said in a statement.

The agency has also named companies NuPower Renewables Pvt Limited, 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 Prevention of Corruption Act, it said. After registering the case, the agency today carried out searches at multiple locations, including offices of Videocon group in Mumbai and Aurangabad, besides those of NuPower Renewables Pvt Limited, which is operated by Deepak Kochhar, and Supreme Energy, once promoted by Dhoot.

“It was alleged that the accused sanctioned certain loans to private companies in a criminal conspiracy with others to cheat ICICI Bank,” the CBI spokesperson said.

It is alleged that the Videocon promoter allegedly invested crores of rupees in NuPower months after the Videocon group got Rs 3,250 crore as loan from the ICICI Bank in 2012, it said. The FIR comes 10 months after the CBI registered a preliminary enquiry (PE) against Dhoot, Deepak and others.

Chanda Kochhar, who went on leave pending a probe by the bank, quit the organisation in October last year. — TNS

Rs 1,730-cr ‘loss’ to ICICI Bank

• ICICI Bank sanctioned loans worth Rs 3,250 cr to firms linked to Videocon group in violation of norms
• Videocon promoter Venugopal Dhoot allegedly invested crores of rupees in Deepak Kochchar-run NuPower
• Most loans became NPAs, causing a loss of Rs 1,730 crore to the bank, say sources