Closing Up so far:
The CBI has arrested extinct ICICI Monetary institution CEO Chanda Kochhar and her husband Deepak Kochhar over a financial institution-fraud case interesting the Videocon community.
The Central Bureau of Investigation (CBI), on Friday, has arrested extinct ICICI Monetary institution CEO and MD Chanda Kochhar and her husband Deepak Kochhar. The arrest was made in connection to a financial institution fraud case linked to ICICI and Videocon community. The Kochhar couple is beneath scanner for the alleged dishonest and irregularities in loans sanctioned by the financial institution to the community in 2012.
In the FIR filed by the CBI, it has named the couple alongside with Venugopal Dhoot of Videocon Team. The FIR furthermore mentions the corporations Nupower Renewables, Supreme Vitality, Videocon Worldwide Electronics Ltd and Videocon Industries Exiguous, as accused within the FIR registered beneath IPC sections associated to felony conspiracy and provisions of the Prevention of Corruption Act.
In the FIR enviornment in 2019, the CBI alleges that Chanda Kochhar sanctioned Rs 3,250 crore as mortgage from ICICI Monetary institution in 2012 and Dhoot invested crores correct months later in Nupower. It additional alleged that the accused sanctioned definite loans to internal most corporations in a felony conspiracy with others to cheat ICICI Monetary institution.
Chanda Kochhar had resigned because the CEO of ICICI Monetary institution in 2018 after an investigation was launched into the case which was filed by the Enforcement Directorate (ED) citing a rip-off of Rs 3,000 crore. The case grew to change into even solid when an worker revealed that the Kochhar family had benefitted immensely during the take care of Videocon. Chanda Kochhar, on the opposite hand, who labored in ICICI for over three a protracted time denied her involvement within the alleged rip-off. Other than the couple, Rajiv Kochhar, her brother-in-legislation has furthermore been grilled by the ED for his alleged hyperlinks to the rip-off. The ED even raided the residences of all of those vigorous about 2019.
Furthermore, the CBI revealed that six loans worth Rs 1,879 crore had been sanctioned to Videocon and pretty about a internal most corporations between June 2009 and October 2011. In 2012, these loans had been declared non-performing sources in 2012 which introduced about an absence of Rs 1,730 crore to ICICI.
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