CBI filed a case against Chanda Kochhar, a former CEO and MD of ICICI bank

CBI filed a case against Chanda Kochhar, a former CEO and MD of ICICI bank

On Thursday, CBI filed an FIR against former CEO and MD of ICICI bank Chanda Kochhar, her husband Deepak Kochhar and Venugopal Dhoot, MD of Videocon group. The CBI filed FIR for the connection with Rs 3250cr loan to the Videocon group given in 2012.

Deepak Kochhar was a founder of Nupower Renewables Pvt Ltd. Venugopal Dhoot, who is a chairman of Videocon group received the loan from ICICI bank. Then allegedly gave Rs 3250 cr to a firm of Nupower Renewables Pvt Ltd head Deep Kochhar(husband of Chanda kochhar) and his two relatives. 

The agency registered a preliminary enquiry on March 31, 2018 to determine whether any wrong doing was involved in sanctioning of loan by ICICI bank, former CEO Chanda kochhar. If they got any evidence then the agency planned to file a case. 

Now the preliminary enquiry is converted into FIR. After filed an FIR, the agency teams carrying raids at four locations of headquarters and offices of Videocon at Mumbai and  Aurangabad as well as in Nupower offices. 

The controversy in alleged conflicts of interests and non-disclosure of loans sanctioned to private companies by ICICI former CEO chanda kochhar to cheat ICICI bank. She quit in ICICI bank on Oct 4, 2018.