Chanda Kochhar and Deepak Kochhar were arrested by CBI on December 24 on allegations of cheating and irregularities in loan of ₹3,250 crore granted in 2012 to the Videocon Group.
The complainant had alleged that Kochhar’s husband and her family members benefited from the dealings.
It was alleged that when Kochhar was at the helm of affairs at ICICI Bank, she cleared a loan for Videocon Group of Companies. As quid pro quo, her husband’s company Nu Renewable allegedly received investment from Videocon. The loan later turned into a non-performing asset (NPA) and was termed as bank fraud.
After initial CBI custody, the special CBI court had remanded them to judicial custody on December 29.
Source: Barandbench
