The Central Bureau of Investigation on Thursday filed a case against former ICICI Bank Chief Executive Officer Chanda Kochhar, her husband Deepak Kochhar, Videocon Chief Executive Officer Venugopal Dhoot, and others in a case linked to alleged irregularities in loan, ANI reported.
Earlier in the day, the CBI had carried out raids in connection with alleged irregularities in a Rs 3,250-crore loan that ICICI Bank sanctioned to Videocon Group in 2012. The agency alleged that the accused sanctioned the loans to private companies in a criminal conspiracy with others in order to cheat ICICI Bank.
The CBI searched the headquarters of Videocon Group in Mumbai and its offices in Aurangabad, as well as the offices of NuPower and Supreme Power. NuPower was founded by Deepak Kochhar.
Six months after Videocon Group received the loan from the bank in 2012, Dhoot allegedly provided crores of rupees to NuPower. In March, the CBI initiated a preliminary inquiry to determine whether the bank had violated any law by sanctioning the loan. That inquiry covered Dhoot and Deepak Kochhar. The agency has now converted the inquiry into a case.
Chanda Kochhar, meanwhile, had stepped down from her role at ICICI Bank in October, months after the allegations first came to light.