In The ICICI-Videocon Fraud, The CBI Is Investigating Ten More High-Value Loans
After it was discovered that 10 high-value loans had been disbursed, the Central Bureau of Probe (CBI) broadened the scope of its investigation into the ICICI-Videocon loan scandal.
According to reports, Chanda Kochhar, the former CEO and MD of ICICI Bank failed to alert the institution to her husband’s business dealings with Videocon founder VN Dhoot. CNBC-TV18 sources claim that VN Dhoot’s responses varied depending on whether he was questioned alone or in front of the Kochhar’s.
In addition to the loans from 2009 to 2011, it was discovered that Videocon received 10 high-value loans from 2012 to 2016. Kochhar was a member of the committee that approved two loans totaling Rs 350 crore and Rs 750 crore.
The Prevention of Corruption Act has not yet granted ICICI Bank permission to prosecute CBI.
On December 24, the CBI appeared in Mumbai Special Court with Kochhar and her husband, Deepak Kochhar, to address charges of irregularities connected to a loan to Venugopal Dhoot’s Videocon Group. The couple was detained on December 30. A loan fraud case made headlines in 2019.
News Mania Desk
