Chanda Kochhar, husband bought ₹5.3 crore flat: CBI

The CBI on Monday told a special court that Chanda Kochhar, former CEO and MD of ICICI Bank, misappropriated the lender's funds for personal use. Special Public Prosecutor A Limozine, appearing for the CBI, sought cognizance of the chargesheet against Chanda Kochhar, her husband Deepak Kochhar and others for fraud and irregularities in sanctioning loans to Videocon Group firms.

Rs 300 crore loan sanctioned

The CBI told the court that Chanda Kochhar was the MD and CEO of ICICI Bank between May 2009 and January 2019. She was liable to discharge such trust as per RBI guidelines and loan policies of ICICI Bank. They conspired with other accused persons to get loans to Videocon group companies, the CBI said. The Committee of Directors, headed by Chanda Kochhar, in August 2009, under criminal conspiracy, took over Videocon International Electronics Ltd. Sanctioned a loan of Rs.300 crore to

The loan amount was paid to different companies of Videocon. 64 crore was transferred in the guise of investment in her husband Deepak Kochhar's NuPower Renewables Limited. The CBI further stated that Chanda Kochhar was living in a flat owned by Videocon in Mumbai. This flat was transferred in the name of his family trust in October 2016 for just Rs 11 lakh. Chanda's husband Deepak is the managing trustee of this trust, while the cost of this flat was Rs 5.25 crore in 1996

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