Loan fraud case: ICICI Bank ex-CEO-MD Chanda Kochhar, husband Deepak remanded to CBI custody for 3 days

NEW DELHI: A special court in Mumbai on Saturday remanded former ICICI Bank CEO-MD Chanda Kochhar and husband Deepak to the custody of Central Bureau of Investigation (CBI) for three days in Videocon loan fraud case. They are accused of cheating and irregularities in loans sanctioned by the bank to Videocon Group companies.
The Kochhars, who were arrested by the CBI on Friday night after a brief questioning session, will remain in its custody till December 26. Sources said the two were called to Delhi for questioning and arrested as their custodial interrogation was required. They are likely to be taken to Mumbai on transit remand. The CBI alleged that they were evasive in their response and did not cooperate in the investigation.

The probe agency alleged that the ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Venugopal Dhoot in violation of the Banking Regulation Act, RBI guidelines and credit policy of the lender in 2012. It had named the Kochhars and Dhoot, along with four companies — Nupower Renewables (NRL), managed by Deepak, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited, as accused in the first information report (FIR) registered under Indian Penal Code (IPC) sections related to criminal conspiracy and provisions of the Prevention of Corruption Act in 2019.
(With inputs from agencies)

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