Chanda Kochhar cheated bank by sanctioning Rs 3250 cr, received kicbakcs into her husband firm, says CBI

New Delhi, Dec 24 Former CEO of ICICI Bank Chanda Kochhar duped the bank and helped Videocon in getting a loan of Rs 3,250 crore by violating the rules, and in return her husband Deepak Kochhar's firm was given Rs 64 crore, revealed the CBI which is probing the loan fraud case.

According to information, the probe agency initiated the preliminary enquiry on December 8, 2017 into the matter, involving bank officials and the Videocon Group.

"It was alleged that the ICICI Bank sanctioned credit facilities of about Rs 3,250 crore to Trend Electronics Ltd, Century Appliances Ltd, Kail Ltd, Value Industries Ltd and Evan Fraser & Co India Ltd, all companies belonging to Videocon Group promoted by Venugopal Dhoot. The officials of ICICI Bank Ltd sanctioned credit facilities to these companies in violation of Banking Regulation Act, RBI Guidelines and Credit Policy of the bank," read the FIR accessed by the .

There were allegations that Dhoot made an investment of Rs 64 crore in Nupower Renewables Ltd