CBI arrests former ICICI Bank CEO Chanda Kochhar, husband Deepak in Videocon loan case

Tribune News Service

New Delhi, December 23

The CBI on Friday arrested former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies, officials said.

They said the Kochhars were called to the agency headquarters and arrested after a brief questioning session.

The CBI has alleged that they were evasive in their responses and did not cooperate in the investigation.

The Kochhars will be produced before a special CBI court on Saturday.

They are likely to be kept in separate lockups on the ground floor of the 11-storeyed agency headquarters after their medical examination.

Sources said agency was likely to move at a swift pace to file the first chargesheet in the case in which the Kochhars could be named along with Venugopal Dhoot of the Videocon Group.

The CBI had named the Kochhars and Dhoot, along with companies Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited, as accused in the FIR registered under IPC and provisions of the Prevention of Corruption Act in 2019, they said.

The CBI had alleged that ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.

It was also alleged that as a part of the quid pro quo, Dhoot made an investment of Rs 64 crore in Nupower Renewables through Supreme Energy Pvt Ltd (SEPL) and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012, the FIR has alleged.

It is alleged that during the tenure of Chanda Kochhar at ICICI Bank, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies during 2009-11. In two cases, she was on the sanctioning committees. The loans were issued in alleged violation of laid-down policies and regulations of the bank, it alleged.— (With PTI inputs)

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