The case concerns the grant of a ₹3,250 crore loan given by ICICI to the Videocon Group in 2012 when the bank was helmed by Kochhar. The CBI has alleged that there was cheating and irregularities involved in the grant of this loan.
As per the CBI, Kochhar had cleared the loan to the Videocon Group of companies because her husband and family stood to benefit from such dealings.
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.
Source: Barandbench
