• Tue. Nov 5th, 2024
    Chanda Kochhar, Deepak Kochhar, and Venugopal Dhoot

    The Central Bureau of Investigation (CBI) special court in Delhi sentenced three accused in the ICICI bank-Videocon loan fraud case, Chanda Kochhar, Deepak Kochhar, and Venugopal Dhoot, to 14 days in judicial custody on Thursday.

    On Monday, the CBI obtained three days’ custody of Chanda, Deepak, and Videocon Group Chairman Venugopal Dhoot, co-accused in the ICICI Bank money laundering case, which was later extended for two days on Wednesday. The case involves alleged irregularities and corrupt practices in the sanctioning of a Rs 1,875 crore loan to the Videocon Group by ICICI Bank between 2009 and 2011.

    Chanda Kochhar, Deepak Kochhar, and Venugopal Dhoot

    During its preliminary investigation, the CBI discovered that six loans totaling Rs 1,875 crore were sanctioned to the Videocon Group and companies associated with it between June 2009 and October 2011, allegedly in violation of ICICI Bank’s policies.

    According to the agency, the loans were declared non-performing assets in 2012, resulting in a loss of Rs 1,730 crore for the bank.

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