CBI probes into Chanda Kochhar and her husband’s firm

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The former ICICI Bank CEO Mrs. Chanda Kochhar and her husband Mr. Deepak Kochhar along with the Managing Director of Videocon Group Mr. VN Dhoot are under the CBI radar.

The Central Bureau of Investigation (CBI) has booked the trio for corruption and criminal conspiracy. The case filed against them indicates the alleged irregularities in sanctioning loans of high net worth.

The high-value loans amounted to an approximate value of Rs 3,250 crore.

These loans were sanctioned between the years 2009 to 2011 to Videocon Group Companies.

Mr. Deepak Kochhar who is the Managing Director and CEO of Nupower Renewables Limited (NRL) which specializes in renewable sources of energy. The CBI alleges that out of the 300 crores that were sanctioned to Videocon Group, 64 crores were immediately transferred to Nupower the following day.

The investigations in this matter are ongoing. Currently, the CBI case is transferred to Mohit Gupta.

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