Chanda Kochhar was accused of abusing her position by authorising crores of rupees in loans to Videocon. The money was then transferred to a company co-owned by her husband, Deepak
The Central Bureau of Investigation (CBI) on Friday arrested former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by the bank to the Videocon group in 2012, sources said.
The CBI had booked Chanda, her husband, and Venugopal Dhoot of Videocon Group, along with companies Nupower Renewables, Supreme Energy, Videocon International Electronics Ltd. and Videocon Industries Limited, as accused in the FIR registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act.
It is alleged that the accused sanctioned certain loans to private companies in a criminal conspiracy with other accused to cheat the ICICI Bank.
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