Agencies
New Delhi: The Central Bureau of Investigation (CBI) registered FIR in the case involving ICICI Bank and its former CEO Chanda Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
Raids are being conducted by CBI at Videocon headquarters in Mumbai, Aurangabad. CBI also carried out search operation in offices of Nupower, a company operated by Chanda Kochhar’s husband Deepak Kochhar.
ICICI Bank-Videocon loan case has alleged irregularities to the tune of Rs 3,250 crore. It is alleged that Videocon promoter Venugopal Dhoot 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.
As per Sebi’s preliminary probe conducted earlier, Deepak Kochhar had many business dealings with the Videocon group over the past several years. Besides, Deepak and Videocon chief Venugopal Dhoot were co-founders and promoters of NuPower, besides other associations.
(Except for the headline, this story has not been edited by The Kashmir Monitor staff and is published from a syndicated feed.)
