A special court in Mumbai on Saturday remanded ICICI Bank’s former CEO and MD Chanda Kochhar and her husband Deepak Kochhar in the custody of the Central Bureau of Investigation (CBI) till December 26 in connection with alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies.
The Kochhars were arrested by the probe agency on Friday night after a brief questioning session.
The CBI has alleged that they were evasive in their response and did not cooperate in the investigation.
The CBI had named the Kochhars and Venugopal Dhoot of Videocon Group, along with companies Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited, as accused in the first information report (FIR) registered under Indian Penal Code (IPC) sections related to criminal conspiracy and provisions of the Prevention of Corruption Act in 2019.
The CBI has alleged that ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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