CBI conducts raids in Videocon-ICICI bank loan case; registers case against Chanda Kochhar
Chanda Kocchar in the Forbes list of World's powerful women
The Central Bureau of Investigation has filed an FIR in the Videocon-ICICI case involving former ICICI Bank managing director and CEO Chanda Kocchar in the Videocon-Nupower case and named her as accused in the case.
CBI has also booked Chanda's husband Deepak Kochhar and Videocon group MD Venugopal Dhoot in connection with alleged cheating and irregularities in the case.
Chanda Kochhar has been accused of misusing her position in the company after she allegedly provided a Rs 3,250 crore loan to the Videocon Group on quid pro quo basis in 2012.
CBI raided four locations owned by Videocon Industries and NuPower Renewables.
The investigative agency is also carrying out searches at the group headquarters in Mumbai and offices in Aurangabad, officials said.
The search operation started Thursday morning and also covered offices of Nupower, a company operated by ICICI Bank's former CEO Chanda Kochhar's husband Deepak Kochhar and Supreme Energy, they said.
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It is alleged that Videocon promoter Venugopal Dhoot allegedly invested crores of Rupees in Nupower months after the Videocon group got Rs 3,250 crore as loan from the ICICI Bank in 2012, they said.
The move comes 10 months after the CBI registered a preliminary enquiry (PE) against Videocon promoter Venugopal Dhoot, Deepak Kochhar and unidentified others in March last year, they said.
(With inputs from agencies)