Chanda is accused of cheating and irregularities in loan of ₹3,250 crore granted in 2012 to the Videocon Group.
A whistleblower alleged in the complaint 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 NPA and was termed as bank fraud.
The couple was arrested on December 24 by CBI in New Delhi and produced before a Special CBI Court in Mumbai on December 25.
Videocon Group chairman Venugopal Dhoot was also arrested in connection with the case
After initial CBI custody, the special CBI court had remanded them to judicial custody on December 29.
They then moved High Court seeking release from the custody contending that the same was illegal.
Source: Barandbench
