CBI said the Kochhars were called to the bureau’s headquarters and arrested after a brief questioning session. The CBI said that they were evasive in their responses and didn’t cooperate with the investigation. The Kochhars will be presented before a special CBI court on Saturday.
The CBI claims that the Venugopal Dhoot-led Videocon group approached the ICICI Bank with over 28 proposals. The Chanda Kochhar-led team, which was a part of the recommendation committee that vetted and approved the plans, chose to move forward with eight of them. Between 2009 and 2011, the bank provided loans totaling 1,875 crores to the Videocon Group and its sibling companies in accordance with the committee’s decision. However, it was later discovered that the majority of these loans were in blatant breach of both ICICI Bank standards and banking regulations.
Source:The Indian Express A day after the Rs 300-crore loan was disbursed by ICICI Bank to VIEL, Dhoot transferred Rs 64 crore to Nupower Renewables, managed by Chanda’s husband Deepak Kochhar, on September 8, 2009, it alleged. The transfer of Rs 64 crore was made from Videocon Industries Ltd through SEPL.This was the first major capital received by Nupower Renewables to acquire the first power plant. Chanda Kochhar got illegal gratification, undue benefit through her husband from VIL/VN Dhoot for sanctioning Rs 300 crore loan to VIEL, the FIR alleged.Do you guys think the Kochhar’s are really at fault in this? Comment.
