The CBI on Friday arrested ICICI’s former managing director and chief executive officer Chanda Kochhar and her husband Deepak Kochhar in the bank loan scam case.
During Chanda Kochhar’s tenure, Rs 1,875 crore loans were approved to Videocon group companies in violation of Banking Regulation Act, RBI guidelines and ICICI Bank policy and in return Rs 64 crore was transferred to a company managed by Chanda Kochhar’s husband.
The bank reported that the loan was not repaid and the bank incurred a loss of Rs 1,730 crore.
In this regard, the CBI has registered a case against Chanda Kochhar, her husband Deepak Kochhar and Videocon Group Chairman Venugopal Dhoot under sections of the Indian Penal Code and the Prevention of Corruption Act.
In this case, the Kochhar couple was questioned at the CBI headquarters in Delhi on Friday. However, it is said by the CBI that both of them did not give satisfactory answers to the questions raised by the officials and refused to cooperate with the investigation.
Subsequently, CBI officials arrested both of them. After medical examination, they were taken into custody at the CBI headquarters building. They will be produced before the special CBI court in Delhi on Saturday.