CBI on 23 december arrested former CEO and managing directer on of icici bank chanda kochhar and her husband deepak kochhar in connection with videocon loan case.
Nupower Renewable was owned by Chanda Kochhar’s husband Deepak. Videocon promoter Venugopal Dhoot allegedly invested crores of rupees in Nupower months after the Videocon Group got Rs 3,250 crore as loan from ICICI Bank in 2012, which was sanctioned by Chanda.
But eventually, the loan to Videocon turned into a Non-Performing Asset (NPA), or bad loan, and was later marked as a ‘bank fraud’. In October 2018, Chanda Kochhar, now 59, stepped down as the CEO and MD of the bank, and charges were put that she “favoured Videocon Group”, a consumer electronics and oil and gas exploration company.
#chandakochhar #deepakkochhar #icicibankscam #venugopaldhoot
#videocon #loan #shortsindia
source
