Thursday, March 28th, 2024

Chanda Kochhar, husband Deepak and Dhoot sent to judicial custody, know the full story of ICICI and Videocon fraud


Photo: PTI ICICI CEO Chanda Kochhar, husband Deepak

The former CEO of ICICI Bank, detained by the CBI in a fraud case, has been sent to judicial custody for 14 days. Along with this, her husband Deepak Kochhar and Videocon Group founder Venugopal Dhoot have also been sent to judicial custody for 14 days. All three of them were arrested by the CBI in the ICICI loan fraud case. He was on CBI remand since his arrest. His remand period was ending today. According to the information received, the CBI did not demand further custody after which they have been sent to judicial custody.

what is the matter

Simply seen, this is a common banking scam, in which officials sitting in high positions give benefits to their special people. But in this case the name of the CEO of the bank, her husband and a big business house have come up. According to the information received, ICICI Bank had given a loan of Rs 3,250 crore to the Videocon Group. Videocon Group did not repay 86 percent (about Rs 2810 crore) of this loan. In the year 2017, this loan was put in NPA.

Huge loan sanctioned to give benefit

In fact, Chanda was part of the committee which on August 26, 2009 approved the bank’s disbursement of Rs 300 crore to Videocon International Electronics. Apart from this, on October 31, 2011, Videocon Industries Limited was approved to give Rs 750 crore. This decision of the committee violated the regulation and policy of the bank.

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Investment in Deepak Kochhar’s company with loan money

According to the FIR, in lieu of sanctioning this huge loan, Dhoot invested Rs 64 crore in Nupower Renewables through Supreme Energy Private Limited (SEPL). Apart from this, between 2010 and 2012, SEPL was transferred to Pinnacle Energy Trust by manipulation. The management of Pinnacle Energy Trust and NRL was with Deepak Kochhar.

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