Table of Contents
What is Videocon case?
The draft charges were proposed against former ICICI Bank MD and CEO Chanda Kochhar, her husband Deepak, Videocon group’s Venugopal Dhoot and others. The ED in its chargesheet had claimed that Kochhar accepted Rs 64 crore from Dhoot for sanctioning a loan of Rs 300 crore from ICICI Bank.
What is Chanda Kochhar Videocon case?
Chanda Kochhar has been accused of misusing her position in the company after she allegedly provided a Rs 3,250 crore loan to the Videocon Group on a quid pro quo basis in 2012.
What is Chanda Kochhar doing these days?
Kochhar is the chairperson of the board of governors at IIIT Vadodara. She is also on the boards of the National Institute of Securities Markets and Institute of International Finance.
Who is MD of Icici?
Sandeep Bakhshi (Oct 15, 2018–)ICICI Bank / CEO
When was Icici Bank Incorporated?
1994, Vadodara, IndiaICICI Bank / Founded
What is the ICICI-Videocon case all about?
The ICICI Bank-Videocon case is about allegations of a quid-pro-quo deal between the Kochhars and the Videocon group. The head of the ICICI bank was Kochhar’s.
Did ICICI Bank lend Rs 660 crore to Videocon?
According to the whistleblower’s letter, ICICI Bank extended loans to the tune of Rs 3,250 to various private companies belonging to Videocon Industries. He further alleges that ICICI Bank also extended offshore funding amounting to Rs 660 crore to a Videocon Group company based in the Cayman Islands.
What is the Videocon-SBI case?
The case rotates around a loan given by ICICI Bank to the Videocon group as a part of a State Bank of India (SBI) led consortium in 2012 and the change of ownership in a firm called NuPower Renewables Pvt Ltd, which was floated as an equivalent joint venture between Chanda Kochhar’s husband Deepak Kochhar and Videocon’s Venugopal Dhoot.
Is Chanda Kochhar a problem for ICICI Bank?
It’s been a tough week for ICICI Bank. Allegations have emerged against Chanda Kochhar, the MD and CEO of the bank, of having personal interest and making gains in loans worth Rs 3,250 crore sanctioned to Videocon Industries.