New Delhi (India), 8th April 2023: In a case involving a 3,250 crore loan fraud, the CBI has filed a charge sheet against former ICICI Bank MD and CEO Chanda Kochhar, her husband Deepak Kochhar, and founder of the Videocon Group Venugopal Dhoot, according to officials on April 8.
In addition to other provisions of the Prevention of Corruption Act, the agency has filed the charge sheet under sections 120-B (criminal conspiracy) and 409 (criminal breach of trust) of the Indian Penal Code (IPC).
According to the officials, the Central Bureau of Investigation (CBI) has listed nine organisations, including businesses and people.
According to the officials, the CBI has proceeded to file its final report before a special court in Mumbai without the necessary approval to prosecute Ms. Chanda Kochhar from ICICI Bank.
They stated that a letter had been submitted to the bank requesting the sanction and that they were still awaiting a reply.
The agency claims that ICICI Bank violated the Banking Regulation Act, RBI standards, and the bank’s credit policy when it approved credit facilities totaling 3,250 crore for the Videocon Group entities that Mr. Dhoot promoted.
Additionally, it was claimed that between 2010 and 2012, Mr. Dhoot transferred SEPL to Pinnacle Energy Trust, run by Mr. Deepak Kochhar, through a convoluted process in exchange for a 64 crore investment he made through Supreme Energy Private Limited (SEPL).
