Former ICICI Bank CEO Chanda Kochhar and her husband Deepak have been arrested by the CBI in a loan fraud case.
During his tenure from 2009 to 2011, Videocon was given a loan of Rs 1,875 crore.
The loan amount was transferred in various installments to a company run by Chanda Kochhar’s husband. ICICI Bank incurred a loss of Rs 1,730 crore as the loan given to Videocon was declared non-performing.
(Chanda Kochhar resigned from the positions of Chief Executive Officer and Managing Director of ICICI Bank in 2018.) The CBI and the Enforcement Directorate were investigating the Videocon loan scam.
In this case, Chanda Kochhar, who was arrested by the enforcement department last year, was later released on bail.
However, the CBI has again arrested her and her husband in a case of loan fraud using their position.