Videocon loan case: CBI to produce Chanda Kochhar, her husband at Mumbai court

The CBI will produce ICICI Banks former CEO and MD Chanda Kochhar and her husband Deepak Kochhar at a Mumbai Special Court on Saturday afternoon in connection with alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies officials saidThe agency will seek a police remand of both accused to interrogate them in connection with the case they saidA team of CBI officials is accompanying the couple on a flight to Mumbai this morning the officials saidThe Kochhars were called to the agency headquarters on Friday and arrested after a brief questioning sessionThe CBI has alleged that they were evasive in their responses and did not cooperate in the investigationSources said the agency is likely to move at a swift pace to file the first charge sheet in the case in which the Kochhars could be named along with Venugopal Dhoot of Videocon GroupAlso Read CBI arrests former ICICI Bank CEOMD Chanda Kochhar husband Deepak Kochhar in Videocon loan caseThe CBI had named the Kochhars and Dhoot along with companies Nupower Renewables NRL managed by Deepak Kochhar 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 in 2019 they saidThe CBI had alleged that ICICI Bank had sanctioned credit facilities to the tune of Rs 3250 crore to the companies of Videocon Group promoted by Dhoot in violation of the Banking Regulation Act RBI guidelines and credit policy of the bankIt was also alleged that as a part of the quid pro quo Dhoot made an investment of Rs 64 crore in Nupower Renewables through Supreme Energy Pvt Ltd SEPL and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012It is alleged that during the tenure of Chanda Kochhar at ICICI Bank six loans worth Rs 1875 crore were cleared for the Videocon Group and its associated companies during 200911 In two cases she was on the sanctioning committees according to the FIRChanda Kochhar was on the sanctioning committee deciding two loans Rs 300 crore to Videocon International Electronics Limited VIEL on August 26 2009 and Rs 750 crore to Videocon Industries Limited on October 31 2011 it has allegedThe loans were issued in alleged violation of laiddown policies and regulations of the bank the FIR allegedMost of these loans became nonperforming assets causing a loss of Rs 1730 crore to the bank it allegedA day after the Rs 300crore loan was disbursed by ICICI Bank to VIEL Dhoot transferred Rs 64 crore to Nupower Renewables managed by Deepak Kochhar on September 8 2009 it further allegedThe transfer of Rs 64 crore was made from Videocon Industries Ltd through SEPLThis was the first major capital received by NRL Nupower Renewables to acquire the first power plant Chanda Kochhar got illegal gratification undue benefit through her husband from VILVN Dhoot for sanctioning Rs 300 crore loan to VIEL the FIR allegedOn May 1 2009 Chanda Kochhar has taken over the charge of ICICI Bank as Managing Director and CEOThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever