ICICI Bank’s ex-CEO Chanda Kochhar held guilty of receiving Rs 64 crore bribe in Videocon loan case
An appellate tribunal under the Prevention of Money Laundering Act has declared ICICI Bank’s former Managing Director Chanda Kochhar as guilty of accepting a bribe of Rs 64 crore in exchange for sanctioning a Rs 300 crore loan to the Videocon Group in September 2009, NDTV Profit reported on Tuesday.
In its order on July 3, the tribunal also upheld the Enforcement Directorate’s attachment of properties in the matter, according to CNBC-TV18.
Chanda Kochhar had resigned from her post in October 2018 after questions were raised about a Rs 3,250-crore loan that the ICICI Bank had given the Videocon Group in 2012.
In January 2020, the Enforcement Directorate attached assets worth Rs 78 crore belonging to her and her husband, Deepak Kochhar. The action was reversed by the PMLA Adjudicating Authority in November 2020.
On July 3, the tribunal said that the day after the disbursement of the Rs 300 crore loan, Rs 64 crore was transferred by Videocon promoter VN Dhoot to NuPower Renewables, a company managed by Deepak Kochhar through Supreme Energy Private, reported CNBC-TV18.
It added that the allegations made by the Enforcement Directorate stand “because on paper ownership of M/s NRPL [NuPower Renewables] is shown to be of VN Dhoot but according to him also, the entire control of the company...
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