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MUMBAI: The special CBI court on Wednesday took cognisance of the chargesheet filed against former CEO of ICICI Bank Chanda Kochhar , her husband Deepak Kochhar, Videocon promoter Venugopal Dhoot and others in a Rs 3,250-crore loan fraud case and issued summons to all the accused. The matter will come up for hearing on August 2.
In the chargesheet, the CBI said after Chanda Kochhar’s appointment as ICICI Bank MD and CEO was announced in December 2008, the accused conspired with her to get loans sanctioned to the financially-beleaguered Videocon group. Loans were extended from time to time in lieu of illegal gratificationof Rs 64 crore paid in the guise of investment in M/s Nupower Renewables Limited, the Kochhars’ company.
The CBI claims an apartment in Churchgate, where the Kochhars were staying, was also among the inducements. The CBI said “a flat of almost like area was sold in this society for Rs 16 crore in 2014 and for Rs 18. 5 crore in 2017”, whereas Chanda Kochhar got the flat transferred in October 2016 for Rs 11 lakh only. “It is worthwhile to mention herein that her son Arjun Kochhar purchased a flat of like area on the same floor for Rs 19. 1 crore on November 12, 2021,” said the chargesheet.
The CBI claimed its investigation revealed that the Kochhars’ apartment in CCI Chambers was owned by Videocon during the relevant period. Deepak Kochhar, in conspiracy with Dhoot, purchased shares of Quality Appliance (company that owned the apartment worth Rs 5. 3 crore in 1996) for only Rs 11 lakh when various loan proposals of Videocon were under consideration in ICICI Bank.
In all, after Kochhar assumed the CEO’s role in May 2009, the CBI said six rupee-term loans were given to Videocon, and all were sanctioned by the Committee of Directors headed by Chanda Kochhar in violation of guidelines and ICICI Bank’s credit policy.
The chargesheet also named Dhoot’s nephew, Saurabh, and a CA, Dattatraya Kadam. Videocon Industries Limited, NuPower Renewables Limited and Supreme Energy Private Limited are the companies named in it.
In the chargesheet, the CBI said after Chanda Kochhar’s appointment as ICICI Bank MD and CEO was announced in December 2008, the accused conspired with her to get loans sanctioned to the financially-beleaguered Videocon group. Loans were extended from time to time in lieu of illegal gratificationof Rs 64 crore paid in the guise of investment in M/s Nupower Renewables Limited, the Kochhars’ company.
The CBI claims an apartment in Churchgate, where the Kochhars were staying, was also among the inducements. The CBI said “a flat of almost like area was sold in this society for Rs 16 crore in 2014 and for Rs 18. 5 crore in 2017”, whereas Chanda Kochhar got the flat transferred in October 2016 for Rs 11 lakh only. “It is worthwhile to mention herein that her son Arjun Kochhar purchased a flat of like area on the same floor for Rs 19. 1 crore on November 12, 2021,” said the chargesheet.
The CBI claimed its investigation revealed that the Kochhars’ apartment in CCI Chambers was owned by Videocon during the relevant period. Deepak Kochhar, in conspiracy with Dhoot, purchased shares of Quality Appliance (company that owned the apartment worth Rs 5. 3 crore in 1996) for only Rs 11 lakh when various loan proposals of Videocon were under consideration in ICICI Bank.
In all, after Kochhar assumed the CEO’s role in May 2009, the CBI said six rupee-term loans were given to Videocon, and all were sanctioned by the Committee of Directors headed by Chanda Kochhar in violation of guidelines and ICICI Bank’s credit policy.
The chargesheet also named Dhoot’s nephew, Saurabh, and a CA, Dattatraya Kadam. Videocon Industries Limited, NuPower Renewables Limited and Supreme Energy Private Limited are the companies named in it.
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