The Central Bureau of Investigation (CBI) raided the headquarters of the Videocon office in Mumbai on Thursday reportedly in connection with the case of loan irregularities filed against the former ICICI Bank boss Chanda Kochhar, her husband Deepak Kochhar, Videocon chief Venugopal Dhoot and others.
In October last year, Chanda Kochhar quit as the CEO and Managing Director of ICICI Bank when allegations emerged that she and her family had benefited from the loan of 3.250 crore INR sanctioned to Videocon Group in 2012. According to these allegations, Venugopal Dhoot had invested staggering sums of money, running into crores of rupees, in NuPower Renewables – a company set up by Chanda Kochhar’s husband. This was after the Videocon Group had been sanctioned loans by the ICICI Bank.
Though the board of the ICICI Bank supported their CEO initially, it later announced a ‘comprehensive enquiry’ to scrutinise the charges against Kochhar. This was followed by the launch of a multi-agency probe as more allegations surfaced against her.
