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CBI Raids Videocon’s Mumbai Office, Chanda Kochhar’s Husband In Loan Case
January 24, 2019
MUMBAI: The CBI has filed a case against former ICICI bank chief Chanda Kochhar’s husband Deepak Kochhar and Videocon head Venugopal Dhoot in a case linked to alleged irregularities in loan. The investigating agency searched the Videocon headquarters in Mumbai and Aurangabad in Maharashtra on Thursday.
Chanda Kochhar quit as CEO and Managing Director of the ICICI Bank in October over the case, which involves a loan of Rs. 3,250 crore to the Videocon Group in 2012. The case exploded last year when a whistleblower alleged that Ms Kochhar’s husband Deepak Kochhar and her family members benefited from the dealings.
Venugopal Dhoot allegedly invested crores of rupees in NuPower Renewables, a company founded by Ms Kochhar’s husband, months after the Videocon group was granted loan by the bank.
After initially backing Ms Kochhar, ICICI Bank announced that its board had decided to set up a “comprehensive enquiry” to investigate the charges. As more allegations surfaced, a multi-agency probe was launched.
