Former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar, and Videocon group founder Venugopal Dhoot were remanded to CBI custody till December 28 in connection with a loan fraud case. The three businessmen were produced before a Central Bureau of Investigation (CBI) court earlier in the day.
While the Kochhars were arrested on Friday night after they were questioned by the federal probe agency, Venugopal Dhoot was arrested earlier today. The three accused were arrested for alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies.
The probe agency has claimed that ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Dhoot. This, the agency said, was in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.
