Chanda Kochhar, husband sent to CBI custody till Monday

A special court in Mumbai on Saturday sent former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar to CBI’s custody till Monday in connection with a loan fraud case involving bank officials and Videocon Group.

Both were produced before the court by the CBI which had sought their custodial remand.

The CBI has alleged that Chanda Kochhar hatched a criminal conspiracy and released loans of Rs 1800 crore to six different companies. Kochhar pressurised other banks to pass their loans.

After receiving a complaint, a case of fraud was filed by the CBI with Mumbai branch in January 2019. The probe agency also moved an application to invoke IPC 409 against Kochhar.

According to a CBI official, the arrests were made based on the January 2019 FIR filed against Chanda Kochhar, her husband and Venugopal Dhoot of Videocon Group.

Nupower Renewables, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited were also made as an accused in the FIR.

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.

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