CBI Raids Videocon Headquarters, Chanda Kochchar Husband's Firm in Loan Case, Files FIR
As of now, the CBI is conducting raids at Videocon’s offices in Mumbai and Aurangabad and Nupower Renewables and Supreme Energy Pvt Ltd’s office at Nariman point in Mumbai.
File photo of Deepak Kochhar.
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New Delhi: The Central Bureau of Investigation (CBI) on Thursday registered an FIR in connection with a case pertaining to alleged transactions between Nupower Renewables Pvt Ltd, controlled by Deepak Kochhar, husband of the former CEO of ICICI Bank Chanda Kochhar, and Venugopal Dhoot-controlled Videocon Group.
As of now, the CBI is conducting raids at Videocon’s offices in Mumbai and Aurangabad and Nupower Renewables and Supreme Energy Pvt Ltd’s office at Nariman point in Mumbai.
It was earlier reported that Dhoot provided crores of rupees to a firm he had set up with Deepak Kochhar and two relatives six months after the Videocon group got Rs 3,250 crore as loan from ICICI Bank in 2012. The amount was part of the Rs 40,000-crore loan that Videocon group secured from a consortium of 20 banks led by SBI.
Dhoot allegedly gave Rs 64 crore in 2010 through a fully owned entity to NuPower Renewables Pvt Ltd (NRPL), which he had set up with Deepak Kochhar and two of his relatives.
He also allegedly transferred proprietorship of the company to a trust owned by Deepak Kochhar for Rs 9 lakh, six months after he received the loan from ICICI Bank.
Almost 86 percent of the Rs 3,250 crore loan (Rs 2,810 crore) remains unpaid. The Videocon account was declared an NPA in 2017.
CBI is yet to confirm whether Chanda Kochhar has been named in the FIR or not.
There are allegations of involvement of former ICICI Bank chief Chanda Kochhar and her family members in a loan provided to Videocon Group on a quid pro quo basis.
Amid the raging controversy, Chanda Kochhar stepped down as the bank's managing director and chief executive in October last year.
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As of now, the CBI is conducting raids at Videocon’s offices in Mumbai and Aurangabad and Nupower Renewables and Supreme Energy Pvt Ltd’s office at Nariman point in Mumbai.
It was earlier reported that Dhoot provided crores of rupees to a firm he had set up with Deepak Kochhar and two relatives six months after the Videocon group got Rs 3,250 crore as loan from ICICI Bank in 2012. The amount was part of the Rs 40,000-crore loan that Videocon group secured from a consortium of 20 banks led by SBI.
Dhoot allegedly gave Rs 64 crore in 2010 through a fully owned entity to NuPower Renewables Pvt Ltd (NRPL), which he had set up with Deepak Kochhar and two of his relatives.
He also allegedly transferred proprietorship of the company to a trust owned by Deepak Kochhar for Rs 9 lakh, six months after he received the loan from ICICI Bank.
Almost 86 percent of the Rs 3,250 crore loan (Rs 2,810 crore) remains unpaid. The Videocon account was declared an NPA in 2017.
CBI is yet to confirm whether Chanda Kochhar has been named in the FIR or not.
There are allegations of involvement of former ICICI Bank chief Chanda Kochhar and her family members in a loan provided to Videocon Group on a quid pro quo basis.
Amid the raging controversy, Chanda Kochhar stepped down as the bank's managing director and chief executive in October last year.
Catch the Biggest Newsmakers and the Biggest Newsbreaks on CNN-News18, your favourite English TV news channel. Keep watching CNN-News18 at just 50 Paise per Month. Contact your cable /DTH operator Now!
*Rental / capacity fee of Rs.130/- as charged by cable / DTH operator may apply. **GST extra.