ICICI Bank’s board gave sanction to prosecute Chanda Kochhar in loan fraud case: CBI tells court
The Central Bureau of Investigation (CBI) on Wednesday told a special court here that it received a sanction from the ICICI Bank’s board to prosecute Chanda Kochhar, the former CEO and MD of the bank, in connection with a case of alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies.
The probe agency, represented by special public prosecutor A Limosin, told the court that the board of ICICI Bank in a resolution passed on April 22 this year gave its sanction to the prosecution (against Kochhar), accepting that there seemed to be quid pro-quo.
Chanda Kochhar and her husband Deepak Kochhar were arrested by the central probe agency in December last year in connection with the case.
