CBI Produces Chanda Kochhar, Husband In Videocon Loan Case

Former Managing Director (MD) and Chief Executive Officer (CEO) of the ICICI bank Chanda Kochhar and her husband Deepak Kochhar were produced before a Special Court of the Central Bureau of Investigation (CBI) for carrying forward remand proceedings.

The CBI arrested the couple on Friday in connection with the alleged ICICI Bank-Videocon money laundering case.
The CBI lawyer in the court said that they have arrested accused number four and five, as per the First Investigation Report registered with them.

“Accused 4 was MD and CEO of ICICI in 2009 and the fifth one is her husband,” the lawyer said.

He said that after Chanda Kochhar became the MD and CEO of the bank, six loans were sanctioned to Videocon and its subsidiary companies and Chanda was a part of the committees that sanctioned two of the loans.

“The loan amount of Rs 1,800 crore has been given to the company,” the CBI lawyer added mentioning that another loan of amount Rs 300 crore was given to a company whose part was Deepak Kochhar.

Read more: http://13.232.95.176/