Loan Fraud: 14-Day Custody For Ex ICICI Bank CEO Chanda Kochhar, Husband

The case is related to alleged irregularities and corrupt practices.

New Delhi:

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

The CBI got three-day custody of Chanda, Deepak, and Videocon Group Chairman Venugopal Dhoot, a co-accused in the ICICI Bank money laundering case on Monday, which was eventually extended for two more days on Wednesday.

The case is related to alleged irregularities and corrupt practices in the sanction of a Rs 1,875 crore loan disbursed by ICICI Bank to the Videocon Group between 2009 and 2011.

During its preliminary inquiry, the CBI found that six loans worth Rs 1,875 crore were sanctioned to the Videocon Group and companies associated with it between June 2009 and October 2011, in an alleged violation of the laid-down policies of ICICI Bank.

The agency claimed the loans were declared non-performing assets in 2012, causing a loss of Rs 1,730 crore to the bank.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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