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Chanda Kochhar Arrest News Today: In a major development, former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar were on Friday arrested by the CBI. The arrest has been done as part of its investigation into a money laundering case involving the bank and the Videocon Group.
Chanda Kochhar, her husband along with Venugopal Dhoot of the Videocon group were booked by the CBI in a case related to criminal conspiracy. It was alleged that Venugopal Dhoot had invested crores of rupees in Nupower Renewables, after receiving the loan from the ICICI bank.
In October 2018, Chanda Kochhar resigned as CEO and managing director of ICICI Bank after allegations that she favoured Videocon Group, a consumer electronics and oil and gas exploration company, in the bank’s lending practices.
CBI has arrested former MD & CEO of ICICI bank Chanda Kochhar & Deepak Kochhar in the alleged ICICI bank – Videocon loan fraud case
(File Picture) pic.twitter.com/I7kmu09pjE
— ANI (@ANI) December 23, 2022
Later, Chanda Kochhar was accused of criminal conspiracy and cheating by the CBI for alleged irregularities in a loan of Rs 3,250 crore in 2012 to the Videocon Group. Later, the Videocon Group became a non-performing asset for the ICICI Bank.
The matter came to limelight after a whistleblower alleged that Chanda Kochhar’s husband Deepak Kochhar and her family members benefited from the dealings.
Alleging that she violated the bank’s code of conduct and internal policies, the ICICI Bank in 2019 said it would treat Kochhar’s exit as “termination for cause”.
It was also alleged that Chanda Kochhar had granted certain loans to private companies in a criminal conspiracy with others to cheat ICICI Bank, the CBI had said in a statement after filing
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