Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
Break up or get dissolved
access_time 4 Nov 2024 4:01 AM GMT
Through oneness to autocracy
access_time 2 Nov 2024 4:58 AM GMT
In football too racism rules the roost
access_time 1 Nov 2024 4:26 AM GMT
The concerns raised by the census
access_time 31 Oct 2024 7:49 AM GMT
exit_to_app
Homechevron_rightIndiachevron_rightFormer ICICI CEO...

Former ICICI CEO Chanda Kochhar granted bail in money laundering case

text_fields
bookmark_border
Former ICICI CEO Chanda Kochhar granted bail in money laundering case
cancel

A Mumbai court has granted former ICICI Bank CEO Chanda Kochhar bail, on a bond of Rs 5 lakhs, for an alleged money laundering case filed by the Enforcement Directorate in February 2019. Based on a complaint by the CBI, the case alleges corruption, involving Chanda Kochhar, her husband Deepak Kochhar and Videocon Group's Venugopal Dhoot, in the sanctioning of Rs 1,875 crores in loans by ICICI bank between June 2009 and October 2011. The loans were declared non-performing assets in 2012, causing the bank a loss of allegedly 1730 crores.

The ED alleged that a day after a loan of 300 crores was sanctioned to Videocon Group from ICICI under Chanda Kochhar, 64 crores was transferred to Deepak Kochhar-owned Nupower Renewables Pvt Ltd from Videocon, a day after disbursement of loans.

The ED is also probing the loans sanctioned by ICICI to Gujarat based Sterling Biotech and Bhushan steel group under her tenure. Months after she stepped down, Kochhar was sacked in 2019. The couple has denied all charges.

Show Full Article
TAGS:ICICICorruptionChanda Kochhar
Next Story