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₹1,033 cr due from Videocon Group not wrongful loss: Bank

ICICI Bank granted six loans to Videocon group companies between June 2009 to October 2011. Later, these loans were restructured by a fresh loan of ₹1,730 crore. The account of Videocon was declared NPA on June 30, 2017, with an outstanding of ₹1,033 crores, the CBI chargesheet stated

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Updated on Aug 06, 2023 12:33 AM IST

ByCharul Shah

'Chanda Kochhar may end up in prison', her husband was warned: CBI chargesheet

The chargesheet, filed in March before the special CBI court in Mumbai, became available last week.

Mahesh Punglia, another chartered accountant connected to Dhoot, in his statement, said that Deepak Kocchar had approached Dhoot for investing <span class='webrupee'>₹</span>64 crore in his company and in return, Chanda Kochhar would help in getting loans from the bank. (HT PHOTO)

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Updated on Aug 06, 2023 10:50 AM IST

ByCharul Shah

Chanda Kochhar, husband appear before special CBI court

Chanda Kochhar, former MD and CEO of ICICI Bank, and her husband Deepak Kochhar appeared before a special CBI court in connection with a loan fraud case involving Videocon Group.

cities

Updated on Aug 03, 2023 12:52 AM IST

ByCharul Shah

Videocon loan fraud case: Enough material to proceed against accused, says court

The CBI had in January 2019 registered a case to probe the alleged irregularities in granting rupee term loans (RTLs) of ₹1,875 crore to the six firms when Chanda Kochhar was the bank’s managing director (MD) and CEO

Chanda Kochhar and Deepak Kochhar are facing CBI probe in the ICICI-Videocon loan fraud case. (File Photo)

cities

Updated on Jul 16, 2023 04:05 PM IST

ByCharul Shah

Kochhars got flat in Churchgate in 2016 for just ₹11 lakh: CBI to court

Former ICICI Bank CEO Chanda Kochhar misused her position to grant loans to ineligible Videocon Group firms, according to the Central Bureau of Investigation. Kochhar, her husband and the group's promoter have been charged with corruption. The prosecutor argued Kochhar accepted a $64m gratuity and that the family benefited from the transfer of a flat in Mumbai's Churchgate area, owned by Videocon, for just $15,000. Kochhar was a member of the loan committee that approved loans of $40m to Videocon from ICICI Bank, the charges allege.

Chanda Kochchar, managing director and CEO of ICICI, photographed at her office in Mumbai on January 2, 2013. Photograph: ABHIJIT BHATLEKAR/MINT

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Updated on Jun 27, 2023 08:06 AM IST

ByCharul Shah

Videocon loans fraud case: ICICI Bank grants CBI sanction to prosecute Chanda Kochhar

The Central Bureau of Investigation (CBI) on Wednesday informed a special court that ICICI Bank had granted the agency sanction to prosecute its former managing director and chief executive officer Chanda Kochhar in connection with a case of alleged irregularities in granting loans to six of Videocon Group firms promoted by Venugopal Dhoot.

cities

Updated on Jun 08, 2023 01:26 AM IST

ByCharul Shah, Mumbai

ICICI Bank loan fraud case: CBI files charge sheet against Kochhars, Dhoot

Apart from the Kochhars and Dhoot, the others charged by the federal investigation agency include a relative of Dhoot and a chartered accountant.

Chanda Kochhar and Deepak Kochhar are facing CBI probe in the ICICI Bank loan fraud case. (ANI)

india news

Updated on Apr 08, 2023 12:40 AM IST

ByCharul Shah, Mumbai

ICICI bank case: Jail officials fail to take Dhoot’s sign on bail bond, court seeks explanation

A special CBI court issued a show cause notice to the superintendent of Arthur Road jail for failing to take the signature of businessman Venugopal Dhoot on his personal bond and cash bail when he was released on bail. Dhoot was arrested on December 26 in connection with a loan fraud case.

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Updated on Apr 06, 2023 12:03 AM IST

ByCharul Shah

Morning brief: Videocon Group laundered money to develop overseas assets

Here are today’s top news, analysis, and opinion. Know all about the latest news and other news updates from Hindustan Times.

Videocon Group Chairman Venugopal Dhoot.(REUTERS FILE PHOTO)

india news

Published on Feb 05, 2023 08:57 AM IST

ByHT News Desk

Custody of Chanda Kochhar, her husband & Videocon's Dhoot extended till Dec 29

The Kochhars and Dhoot were arrested last week in a case pertaining to alleged irregularities and corrupt practices in the sanction of six loans worth ₹1,875 given by ICICI Bank to the Videocon Group between 2009 and 2011.

Deepak Kochhar, husband of former MD & CEO of ICICI Bank Chanda Kochhar, with her leaves the CBI Special Court after appearing before it in the ICICI money laundering case, in Mumbai. (PTI Photo)

india news

Updated on Dec 28, 2022 02:40 PM IST

ByHT News Desk, New Delhi

ICICI Bank irregularities: CBI arrests Videocon Group chairman Venugopal Dhoot

Dhoot was arrested on the basis of documentary evidence which allegedly showed he bribed the Kochhars for availing loans from the private bank

Dhoot was questioned multiple times over the last four years. (ANI)

india news

Updated on Dec 26, 2022 02:16 PM IST

ByNeeraj Chauhan

NCLT orders freeze on accounts, assets of Videocon group

In an order issued late in the evening, the tribunal has asked the promoter, Venugopal Dhoot, to disclose the moveable and immovable properties and bank accounts belonging to the group in India and abroad.

The ministry had approached the Mumbai bench against Venugopal Dhoot and other former directors and senior officials of Videocon Industries Ltd under Section 241 and 242 of the Companies Act(REUTERS)

business

Published on Sep 01, 2021 07:15 AM IST

ByGopika Gopakumar, Mumbai

ICICI Bank money laundering case: Chanda Kochchar granted bail

ED filed a complaint against Kochhars and the Dhoots on November 3, 2020 and accused eight companies in the money laundering case

Former ICICI Bank CEO Chanda Kochhar (REUTERS/Francis Mascarenhas/File Photo)

business

Updated on Feb 12, 2021 02:41 PM IST

ByCharul Shah, Mumbai

ICICI bank fraud: Drivers, gardeners were directors in Deepak Kochhar and Dhoot’s companies. They didn’t know, says ED

As per the statement of these employees, some of them have claimed that they never even heard about the companies in which they were made directors

Deepak Kochhar, husband of former ICICI Bank MD & CEO Chanda Kochhar.(File photo)

india news

Updated on Dec 09, 2020 04:42 PM IST

Hindustan Times, New Delhi | ByNeeraj Chauhan

ICICI bank fraud: Court refuses bail to Deepak Kochhar

Kochhar had earlier sought bail saying the ED had failed to file a charge sheet against him within the stipulated 60 days of his arrest; that plea was also rejected

india news

Updated on Dec 01, 2020 05:25 PM IST

Hindustan Times, Mumbai | ByCharul Shah

Chanda Kochhar, 2 others named in ED’s money laundering chargesheet

This is the first ever chargesheet against Chanda Kochhar, who had to step down in October 2018 from the ICICI Bank after allegations of multiple irregularities surfaced against her.

Investigation against Chanda Kochhar dates back to December 8, 2017, when the Central Bureau of Investigation (CBI) first registered a preliminary enquiry against her to investigate the irregularities in loans disbursed by the private bank during her tenure. (HT Photo)

india news

Updated on Nov 04, 2020 10:43 PM IST

Hindustan Times, New Delhi | ByNeeraj Chauhan

Chanda Kochhar and husband Deepak worked in tandem, says ED

Deepak Kochhar, according to the ED, not only actively engaged in laundering proceeds of crime and projecting it as “untainted,” but continued to have access to the laundered money.

Former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar .(Biplov Bhuyan/HT PHOTO)

india news

Updated on Sep 09, 2020 02:28 AM IST

Hindustan Times, New Delhi | ByNeeraj Chauhan

Former ICICI Bank CEO Chanda Kochhar’s Mumbai house attached by ED for alleged violation of bank norms

Kochhar’s assets attached by ED include a flat in which she is currently living and three properties of husband including farm houses. The book value of these properties is ₹78 crore, while the market value is ₹600 crore.

Chanda Kochhar-MD & CEO of ICICI Bank, during MINT annual banking Conclave in Mumbai on February 14, 2012. Photograph: ABHIJIT BHATLEKAR/MINT

india news

Updated on Jan 10, 2020 09:55 PM IST

Hindustan Times, New Delhi | ByHT Correspondent

In Chanda Kochhar case, ED probe points to conflict of interest

HT has reviewed a copy of an internal ED report, which states that CFL was held jointly by Chanda Kochhar and family (60% of shares) and Videocon (24.7% shares) since 2000-01.

Former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar arrive to appear before Enforcement Directorate (ED) in connection with a bank loan fraud and money laundering case probe, in New Delhi, India, on Tuesday, May 14, 2019. (Photo by Biplov Bhuyan/ Hindustan Times)(Biplov Bhuyan/HT PHOTO)

business

Updated on May 18, 2019 08:05 AM IST

Hindustan Times, New Delhi | ByNeeraj Chauhan

ICICI probe widens, 24 loans from Chanda Kochhar era under lens

The ED, investigating links between former ICICI Bank managing director and chief executive officer Chanda Kochhar and the Videocon Group, has expanded its probe.

former ICICI Bank managing director and chief executive officer Chanda Kochhar(PTI file photo)

business

Updated on May 17, 2019 07:30 AM IST

Hindustan Times, New Delhi | ByNeeraj Chauhan

Ex-ICICI bank CEO Chanda Kochhar questioned by ED for fourth straight day in loan fraud case

The Enforcement Directorate (ED) on Monday questioned former ICICI Bank CEO Chanda Kochhar for the fourth consecutive day in the ongoing probe into the alleged irregularities and corrupt practices in sanctioning a ₹1,875-crore loan by the bank to the Videocon Group.

It is alleged Dhoot invested in NuPower through his firm Supreme Energy, a quid pro quo to loans cleared by the ICICI Bank after Chanda Kochhar took over as the Chief Executive Officer(PTI)

india news

Published on Mar 04, 2019 03:43 PM IST

Mumbai | ByIndo Asian News Service

Chanda Kochhar, husband at ED’s Mumbai office in money laundering case

News agency PTI reported that they appeared in ED’s Mumbai office in a case registered under Prevention of Money Laundering Act (PMLA) .

The raids were conducted at several locations including their offices and residential premises in Mumbai and other places.(Abhijit Bhatlekar/ Mint)

india news

Updated on Mar 03, 2019 07:00 AM IST

New Delhi | ByHT Correspondent

CBI issues lookout notice against Chanda Kochhar, 2 others in ICICI loan case

The CBI had on January 24 named the the Kochhars and Dhoot as accused in an FIR in the the ₹3,250 crore loan case.

The Central Bureau of Investigation (CBI) has issued a lookout notice against former ICICI Bank CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon Group promoter Venugopal Dhoot.(PTI Photo)

india news

Updated on Feb 22, 2019 01:02 PM IST

Hindustan Times | ByHT Correspondent

Chanda Kochhar ‘shocked, hurt’ by ICICI Bank’s decision to terminate her

Chanda Kochhar, the first woman CEO of a bank in the country, also said she served the ICICI group for 34 long years “with all my dedication and hard work” and the bank’s latest decision has caused her “immense hurt and pain”.

An independent enquiry conducted by retired Supreme Court judge BN Srikrishna has indicted Kochhar, who had led the bank for nearly a decade, for violating various regulations(PTI)

business

Updated on Jan 30, 2019 10:08 PM IST

Mumbai | ByPress Trust of India

ICICI says Chanda Kochhar violated code of conduct, has to return bonuses

ICICI Bank, India’s third biggest lender, said it will treat Chanda Kochhar’s resignation as “termination for cause” and will stop payment of unpaid benefits, including bonus.

Chanda Kochhar resigned in October after being mired in allegations that she favoured Videocon Group(PTI/File Photo)

business

Updated on Jan 30, 2019 09:03 PM IST

Reuters | ByAgencies

Chanda Kochhar is just the tip of the iceberg: Whistleblower on CBI FIR in ICICI-Videocon loan case

Arvind Gupta, who blew the lid on the alleged Videocon loan fraud, said the case registered by CBI against Chanda Kochhar, her husband Deepak Kochhar and Videocon Group head Venugopal Dhoot for criminal conspiracy and fraud is just a good beginning.

Chanda Kochhar resigned in October last year after seeking early retirement and was replaced by Sandeep Bakhshi. The 56-year-old had headed ICICI since May 2009.(Arvind Yadav/ HT Photo)

india news

Updated on Jan 25, 2019 11:06 AM IST

New Delhi | ByHT Correspondent

ICICI Bank aims to grow home loan book to Rs 2 trillion by 2020

At Rs 1.5 trillion currently, the mortgage loan-book is half of the bank’s overall retail loan portfolio of around Rs 3 trillion, the bank said.

CICI Bank has been under probe by multiple central agencies since March for alleged wrongdoings in extending loan to now-bankrupt Videocon group by its managing director Chanda Kochhar, who has since been asked to go on leave till a probe is over.(REUTERS)

business

Published on Jul 04, 2018 06:13 PM IST

Press Trust of India, Mumbai | ByPress Trust of India

SEBI yet to receive reply from ICICI Bank on Chanda Kochhar issue: Ajay Tyagi

Chanda Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities.

On Monday, ICICI Bank announced that Kochhar has decided to go on leave till the completion of an external enquiry into alleged conflict of interest in extending loans to some corporates like Videocon.(Abhijit Bhatlekar/ Mint)

business

Published on Jun 21, 2018 06:03 PM IST

Press Trust of India | ByPress Trust of India

Sandeep Bakhshi to run ICICI Bank while CEO Chanda Kochhar goes on leave amid probe

ICICI Bank appointed Sandeep Bakhshi as director and chief operating officer for a period of 5 years.

Sandeep Bakhshi, who has been appointed for 5 years, was the managing director and CEO of ICICI Prudential Life Insurance Co.(HT Photo)

business

Updated on Jun 19, 2018 11:05 AM IST

Hindustan Times, New Delhi | ByHT Correspondent

Corporate affairs ministry begins inspecting NuPower, 5 other cos linked to ICICI Bank controversy

The ministry ordered inspection under Section 206(5) of the Companies Act, 2013 on April 23, 2018 with respect to six companies linked to the ICICI Bank controversy, Union Minister P P Chaudhary said .

There are allegations of involvement of ICICI Bank’s MD and CEO Chanda Kochhar and her family members in a loan provided to Videocon Group on a quid pro quo basis.(Reuters File)

business

Published on Jun 13, 2018 02:20 PM IST

Press Trust of India, New Delhi | ByPress Trust of India

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videocon group news

Latest from videocon group

ICICI Bank granted six loans to Videocon group companies between June 2009 to October 2011. Later, these loans were restructured by a fresh loan of ₹1,730 crore. The account of Videocon was declared NPA on June 30, 2017, with an outstanding of ₹1,033 crores, the CBI chargesheet stated

The chargesheet, filed in March before the special CBI court in Mumbai, became available last week.

Chanda Kochhar, former MD and CEO of ICICI Bank, and her husband Deepak Kochhar appeared before a special CBI court in connection with a loan fraud case involving Videocon Group.

The CBI had in January 2019 registered a case to probe the alleged irregularities in granting rupee term loans (RTLs) of ₹1,875 crore to the six firms when Chanda Kochhar was the bank’s managing director (MD) and CEO

Apart from the Kochhars and Dhoot, the others charged by the federal investigation agency include a relative of Dhoot and a chartered accountant.

A special CBI court issued a show cause notice to the superintendent of Arthur Road jail for failing to take the signature of businessman Venugopal Dhoot on his personal bond and cash bail when he was released on bail. Dhoot was arrested on December 26 in connection with a loan fraud case.

Here are today’s top news, analysis, and opinion. Know all about the latest news and other news updates from Hindustan Times.

The Kochhars and Dhoot were arrested last week in a case pertaining to alleged irregularities and corrupt practices in the sanction of six loans worth ₹1,875 given by ICICI Bank to the Videocon Group between 2009 and 2011.

Dhoot was arrested on the basis of documentary evidence which allegedly showed he bribed the Kochhars for availing loans from the private bank

In an order issued late in the evening, the tribunal has asked the promoter, Venugopal Dhoot, to disclose the moveable and immovable properties and bank accounts belonging to the group in India and abroad.

ED filed a complaint against Kochhars and the Dhoots on November 3, 2020 and accused eight companies in the money laundering case

As per the statement of these employees, some of them have claimed that they never even heard about the companies in which they were made directors

Kochhar had earlier sought bail saying the ED had failed to file a charge sheet against him within the stipulated 60 days of his arrest; that plea was also rejected

This is the first ever chargesheet against Chanda Kochhar, who had to step down in October 2018 from the ICICI Bank after allegations of multiple irregularities surfaced against her.

Deepak Kochhar, according to the ED, not only actively engaged in laundering proceeds of crime and projecting it as “untainted,” but continued to have access to the laundered money.

Kochhar’s assets attached by ED include a flat in which she is currently living and three properties of husband including farm houses. The book value of these properties is ₹78 crore, while the market value is ₹600 crore.

HT has reviewed a copy of an internal ED report, which states that CFL was held jointly by Chanda Kochhar and family (60% of shares) and Videocon (24.7% shares) since 2000-01.

The ED, investigating links between former ICICI Bank managing director and chief executive officer Chanda Kochhar and the Videocon Group, has expanded its probe.

The Enforcement Directorate (ED) on Monday questioned former ICICI Bank CEO Chanda Kochhar for the fourth consecutive day in the ongoing probe into the alleged irregularities and corrupt practices in sanctioning a ₹1,875-crore loan by the bank to the Videocon Group.

News agency PTI reported that they appeared in ED’s Mumbai office in a case registered under Prevention of Money Laundering Act (PMLA) .

The CBI had on January 24 named the the Kochhars and Dhoot as accused in an FIR in the the ₹3,250 crore loan case.

Chanda Kochhar, the first woman CEO of a bank in the country, also said she served the ICICI group for 34 long years “with all my dedication and hard work” and the bank’s latest decision has caused her “immense hurt and pain”.

ICICI Bank, India’s third biggest lender, said it will treat Chanda Kochhar’s resignation as “termination for cause” and will stop payment of unpaid benefits, including bonus.

Arvind Gupta, who blew the lid on the alleged Videocon loan fraud, said the case registered by CBI against Chanda Kochhar, her husband Deepak Kochhar and Videocon Group head Venugopal Dhoot for criminal conspiracy and fraud is just a good beginning.

At Rs 1.5 trillion currently, the mortgage loan-book is half of the bank’s overall retail loan portfolio of around Rs 3 trillion, the bank said.

Chanda Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities.

ICICI Bank appointed Sandeep Bakhshi as director and chief operating officer for a period of 5 years.

The ministry ordered inspection under Section 206(5) of the Companies Act, 2013 on April 23, 2018 with respect to six companies linked to the ICICI Bank controversy, Union Minister P P Chaudhary said .

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