CBI points out Kochhar’s trust got ₹5.3cr flat for ₹11L
Mumbai: The CBI, through special public prosecutor A Limosin, said in the special court on Monday that former ICICI Bank CEO Chanda Kochhar conspired with the other accused to sanction credit facilities in favour of companies of the Videocon Group. The court will continue to hear arguments on July 3.
In furtherance of a criminal conspiracy on August 26, 2009, a rupee term loan of Rs 300 crore was sanctioned to Videocon International Electronics Ltd by the ICICI Bank committee of directors headed by Kochhar, said the CBI. The loan amount was disbursed on September 7 and through a complex maze involving various companies of the Videocon group, Rs 64 crore was transferred under the garb of investments to NuPower Renewables Limited, owned by her husband Deepak.
