The CBI has registered a case against former MD and CEO of ICICI Bank Chanda Kochhar in the ICICI Bank-Videocon Rs 3,250-crore loan case. The central investigative agency had already named Chanda's husband Deepak Kochhar, Videocon Group MD Venugopal Dhoot and others in the same case.
Chanda Kochhar has been accused of sanctioning loans to debt-ridden Videocon Group in a criminal conspiracy with the other accused to cheat ICICI Bank.
READ: CBI files FIR against Chanda Kochhar's husband and Dhoot
Earlier on Thursday, CBI raids were underway at the Videocon headquarters in Mumbai and Aurangabad, and at Deepak Kochhar's Nupower office in Mumbai.
It is alleged that Videocon promoter Dhoot allegedly invested crores of rupees in Kochhar's Nupower months after the Videocon group got Rs 3,250 crore as loan from the ICICI Bank in 2012. The agency had registered a preliminary enquiry against Dhoot, Deepak Kochhar and unidentified others in March last year.
The case saw 56-year-old Chanda Kochhar, who rose through ranks to occupy the corner office of the ICICI Bank, stepping down unceremoniously after an illustrious career. Chanda has been accused of conflicts of interest, lack of disclosures and quid pro quo while extending loans to the now-bankrupt Videocon Industries.
Chanda Kochhar, however, had rejected the allegations and claimed no wrong-doing.
