A Mumbai court on Saturday remanded former CEO of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar to the custody of the Central Bureau of Investigation (CBI) till December 26 in the Videocon loan case. .The couple was arrested on Friday evening by CBI in New Delhi and produced before a Special CBI Court in Mumbai today. Chanda was accused of cheating and irregularities in loan of ₹3,250 crore granted in 2012 to the Videocon Group, which became a non-performing asset for the ICICI Bank.The duo will remain in the CBI custody for three days as sought for by the agency. .A whistleblower alleged in the complaint that Kochhar's husband and her family members benefited from the dealings.Allegations are that when Kochhar was at the helm of affairs at ICICI Bank, she cleared a loan for Videocon Group of Companies. As quid pro quo, her husband's company Nu Renewable allegedly received investment from Videocon. The loan later turned into a NPA and was termed as bank fraud. The duo was represented by Senior Advocate Amit Desai.
A Mumbai court on Saturday remanded former CEO of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar to the custody of the Central Bureau of Investigation (CBI) till December 26 in the Videocon loan case. .The couple was arrested on Friday evening by CBI in New Delhi and produced before a Special CBI Court in Mumbai today. Chanda was accused of cheating and irregularities in loan of ₹3,250 crore granted in 2012 to the Videocon Group, which became a non-performing asset for the ICICI Bank.The duo will remain in the CBI custody for three days as sought for by the agency. .A whistleblower alleged in the complaint that Kochhar's husband and her family members benefited from the dealings.Allegations are that when Kochhar was at the helm of affairs at ICICI Bank, she cleared a loan for Videocon Group of Companies. As quid pro quo, her husband's company Nu Renewable allegedly received investment from Videocon. The loan later turned into a NPA and was termed as bank fraud. The duo was represented by Senior Advocate Amit Desai.