FIR lodged in the name of ICIC Bank Chief Executive Chanda Kochhar, her husband Deepak Kochhar and Managing Director of Videocon Venugopal Dhoot.
The FIR is about purported Corruption of ₹1,875 crore given as loan to Videocon group during 2009-11.
Chanda Kochhar violated Bank’s Code of Conduct that leads to her termination under internal Bank Policy.
The Central Bureau of Investigation (CBI) is further investigating against FIR lodged in the name of ICIC Bank Chief Executive Chanda Kochhar, her husband Deepak Kochhar and Managing Director of Videocon Venugopal Dhoot.
The FIR is about purported corruption of ₹1,875 crore given as loan to Videocon group during 2009-11. The Enforcement Directorate (ED) has expanded the investigation to forex rules violations.
A LOC has never been issued under Chanda Kochhar. LOC’s are supposed when there are mandatory cases against economic offenses.
The ED further wanted to investigate what the couples have owned all the while inclusive of their South Mumbai Apartment. The officials also wanted to meet the Income Tax agents who are privately handling the case.
The reports have further suggested that there was a flow of money to several Videocon group companies and thereby the officials wanted details from the Registrar of Companies (RoC) to learn about the flow of fund.
A senior lawyer clarified that Chanda Kochhar could not be considered the same as others like Nirav Modi, Vijay Mallya, Mehul Choksi who fled from the country on charges of economic offenses.
Last month, Srikrishna committee said Chanda Kochhar violated Bank’s code of conduct that leads to her termination under internal bank policy.
Before Kochhar’s termination, it was reported that a sum of ₹3,250 crore was given as loan to Videocon and Kochhar was in the same committee when this loan amount was sanctioned.
Dhoot was the first investors in NuPower Renewables that is promoted by Deepak Kochhar, and it was believed that Chanda was fulfilling her gratification via her husband.
On September 2007, the loan was expended to Videocon International electronics. Later Dhoot transferred ₹64 crore to NuPower Renewables. NRL received its first capital for its power plant.
