CBI registers case against Kochhars, Dhoot in ICICI Bank-Videocon loan case
24 January 2019
The Central Bureau of Investigation (CBI) has registered a case against former MD and CEO of ICICI Bank Chanda Kochhar, her husband Deepak Kochhar, Videocon group MD V N Dhoot and others in the alleged ICICI Bank-Videocon loan scam.
The CBI has found irregularities in ICICI Bank extending Rs3,250 crore loan to Videocon promoter Venugopal Dhoot, who allegedly invested crores of rupees in Nupower, an entity co-founded by Deepak Kochhar, after the Videocon group got Rs3,250 crore as loan from the ICICI Bank in 2012.
Earlier in the day, the agency carried out searches at multiple locations, including the offices of Videocon group in Mumbai and Aurangabad, offices of Nupower Renewables Pvt Limited which is operated by Deepak Kochhar, and Supreme Energy after registering a case.
As per Sebi's preliminary probe conducted earlier, Deepak Kochhar had many business dealings with the Videocon group over the past several years. Besides, Deepak and Videocon chief Venugopal Dhoot were co-founders and promoters of NuPower, besides other associations.
CBI had, in March last year, registered a preliminary enquiry (PE) against Videocon promoter Venugopal Dhoot, Deepak Kochhar and unidentified others. A PE is a precursor before the agency lodges an FIR to probe criminal charges on the basis of evidence collected during the former exercise.