Former CEO of ICICI Bank Chanda Kochhar held guilty of taking ₹64 cr bribe: Report
An appellate tribunal on Tuesday held former CEO of ICICI Bank Chanda Kochhar guilty of taking ₹64 crore bribe to greenlight ₹300 crore loan to Videocon, as per a report. Probing the bribery case, CBI had earlier revealed that Kochhar allegedly duped the bank and helped Videocon in getting a loan by violating the rules, and in return her husband Deepak Kochhar’s firm was given ₹64 crore.In 2009, a loan of ₹300 crore was sanctioned to Videocon International Electronics Ltd (VIEL) in contravention of the rules and policy by the sanctioning committee.“Chanda Kochhar was one of the members of the sanctioning committee, who in criminal conspiracy to cheat ICICI Bank and in pursuance of criminal conspiracy, dishonestly by abusing her official position sanctioned the loan in favour of VIEL,” the CBI had alleged.The CBI official said that a day after getting the loan, Dhoot transferred an amount of ₹64 crore to NRL, the firm of Deepak Kochhar, from VIL through his company SEPL. This was the first major capital received by NRL to acquire its first power plant.The CBI had also said that it was ill-gotten money received by Chanda Kochhar.(with inputs from syndicated feed)
An appellate tribunal on Tuesday held former CEO of ICICI Bank Chanda Kochhar guilty of taking ₹64 crore bribe to greenlight ₹300 crore loan to Videocon, as per a report.
Probing the bribery case, CBI had earlier revealed that Kochhar allegedly duped the bank and helped Videocon in getting a loan by violating the rules, and in return her husband Deepak Kochhar’s firm was given ₹64 crore.
In 2009, a loan of ₹300 crore was sanctioned to Videocon International Electronics Ltd (VIEL) in contravention of the rules and policy by the sanctioning committee.
“Chanda Kochhar was one of the members of the sanctioning committee, who in criminal conspiracy to cheat ICICI Bank and in pursuance of criminal conspiracy, dishonestly by abusing her official position sanctioned the loan in favour of VIEL,” the CBI had alleged.
The CBI official said that a day after getting the loan, Dhoot transferred an amount of ₹64 crore to NRL, the firm of Deepak Kochhar, from VIL through his company SEPL. This was the first major capital received by NRL to acquire its first power plant.
The CBI had also said that it was ill-gotten money received by Chanda Kochhar.
(with inputs from syndicated feed)
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