Ex-ICICI Bank CEO Chanda Kochhar, Husband Arrested In Loan Fraud Case
NDTV
Chanda Kochhar, had quit as CEO and managing director of ICICI Bank in four years ago, and denied that she favoured had Videocon Group while clearing loans.
Former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar were arrested by the CBI on Friday as part of its investigation into allegations of irregularities in loans provided to the Videocon Group when she was heading the private sector bank.
Chanda Kochhar, 59, had quit as CEO and managing director of ICICI Bank in October 2018 over allegations that she favoured Videocon Group, a consumer electronics and oil and gas exploration company, in the bank's lending practices.
She has been accused of criminal conspiracy and cheating by the CBI for alleged irregularities in a loan of Rs 3,250 crore in 2012 to the Videocon Group, which became a non-performing asset for the ICICI Bank. A whistleblower alleged that Ms Kochhar's husband Deepak Kochhar and her family members benefited from the dealings.
Saying that she violated the bank's code of conduct and internal policies, ICICI in 2019 said it would treat Ms Kochhar's exit as "termination for cause".
