The Rs 3,250 crore loan has become a non-performing asset for the ICICI Bank
New Delhi: The Central Bureau of Investigation (CBI) has registered a case against the former chief of ICICI bank Chanda Kochhar, her husband Deepak Kochhar, Videocon head Venugopal Dhoot and others over alleged irregularities in loan granted in 2012, when Chanda Kochhar was the chief of the bank. The investigating agency searched the Videocon headquarters in Mumbai and Aurangabad in Maharashtra on Thursday in relation to the case.
Here are the 10 points related to the case against Chanda Kochhar:
- The case is related to the loan to Videocon, and the business alliance between its promoter Venugopal Dhoot and her husband Deepak Kochhar.
- Venugopal Dhoot allegedly invested crores of rupees in NuPower Renewables, a company founded by Ms Kochhar's husband, months after the Videocon group was granted loan by the bank.
- It was part of a Rs. 40,000 crore loan which Videocon got from a consortium of 20 banks led by the State Bank of India.
- The Rs 3,250 crore loan has become a non-performing asset for the ICICI Bank.
- The case exploded last year when a whistleblower alleged that Ms Kochhar's husband Deepak Kochhar and her family members benefited from the dealings.
- Initially, Chanda Kochhar enjoyed full backing of the board but lost it as the list of allegations kept growing with more names like an alleged Essar group shell company of the Ruias also emerging among those with whom the Kochhar family had a relationship.
- These allegations led to probes by multiple agencies, including the CBI, ED and SFIO, and also questioning of the Kochhar family members, PTI reported.
- The ICICI bank last year launched an independent probe by retired judge BN Srikrishna and Ms Kochhar. Chanda Kochhar went on indefinite leave pending the probe. This led to Sandeep Bakhshi being made the chief operating officer to oversee the day-to-day operations.
- Chanda Kochhar resigned in October last year.
- Four companies have been named in the CBI's First Information Report -- NuPower Renewables, Supreme Energy, Videocon International Electronics and Videocon Industries.
With inputs from PTI
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