A particular CBI court docket on Saturday remanded former managing director (MD) and chief government officer (CEO) of ICICI Financial institution Chanda Kochhar and her husband Deepak Kochhar to the CBI custody until Monday. The CBI arrested the couple on Friday in reference to alleged dishonest and irregularities in loans sanctioned by the financial institution to Videocon Group firms.
Chanda and Deepak Kochhar had been produced earlier than the particular court docket of the Central Bureau of Investigation (CBI) for carrying ahead remand proceedings. The CBI lawyer within the court docket stated they’ve arrested accused quantity 4 and 5, as per the FIR registered with them.
Kochhar was accused of misusing her place within the ICICI Financial institution in granting loans to Videocon group promoter Venugopal Dhoot in 2009 and 2011. Kochhar, her husband and Venugopal Dhoot of the Videocon group had been booked by the CBI together with others in a case associated to felony conspiracy. It was alleged that Dhoot invested crores in Nupower Renewables, after receiving the mortgage from the ICICI Financial institution.
It was alleged that the accused sanctioned sure loans to non-public firms in a felony conspiracy with others to cheat ICICI Financial institution, the CBI had stated in an announcement after submitting the case in 2019.
Kochhar was earlier arrested by Enforcement Directorate in reference to the identical case in 2021. She needed to step down from her place within the ICICI Financial institution in 2018 due to this multi-crore rip-off, because the investigation started. She had denied all the fees in opposition to her and her husband.
In 2019, the ED raided the residences and the places of work of Kochhar, her husband and Dhoot. Final month, the ED interrogated Dhoot in reference to the case.
The CBI discovered six loans price ₹1,875 crore had been sanctioned to the Videocon Group and firms related to it between June 2009 and October 2011 in an alleged violation of laid-down insurance policies of ICICI Financial institution, that are a part of the probe. The CBI stated the loans had been declared non-performing property in 2012, inflicting a lack of ₹1,730 crore to the financial institution.