https://indianpedia.org/index.php?action=history&feed=atom&title=ICICI-Videocon_loan_scamICICI-Videocon loan scam - Revision history2026-07-31T00:47:45ZRevision history for this page on the wikiMediaWiki 1.45.4https://indianpedia.org/index.php?title=ICICI-Videocon_loan_scam&diff=503408&oldid=prevSvetlanazrc at 11:27, 6 May 20242024-05-06T11:27:03Z<p></p>
<p><b>New page</b></p><div>{{Short description|Financial scam}}<br />
{{Recentism|date=December 2022}}<br />
The '''ICICI-Videocon loan scam''' is about a criminal conspiracy by [[Chanda Kochhar]] as Managing Director of [[ICICI Bank]] who abused her position by sanctioning a {{INRConvert|3250|c|mode=historical|year=2011}} loan to [[Venugopal Dhoot]]'s [[Videocon Group|Videocon International Electronics Limited]] (VIEL) between June 2009 and October 2011 to cheat the bank in lieu of illegal gratification and undue benefit received in NuPower Renewables Private Limited (NRPL), a company owned by Kocchar's husband, Deepak Kochhar.<ref>{{Cite web |title=Videocon chief Venugopal Dhoot arrested in loan fraud case: All you need to know |url=https://www.indiatoday.in/india/story/videocon-chief-venugopal-dhoot-arrested-in-loan-fraud-case-all-you-need-to-know-2313685-2022-12-26 |access-date=2022-12-26 |website=India Today |date=26 December 2022 |language=en}}</ref><br />
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== Investigation ==<br />
In the course of its preliminary investigation, the [[Central Bureau of Investigation]] (CBI) discovered that between June 2009 and October 2011, ICICI Bank allegedly broke its own policies by authorising six loans totaling ₹1,875 crore to be given to companies affiliated with the Videocon Group. According to the investigation agency, the loans were declared to be [[non-performing assets]] in 2012, which resulted in a loss of ₹1,730 crore for the bank.<ref>{{Cite web |date=2022-12-26 |title=ICICI Bank-Videocon fraud case: Court remands Chanda Kochhar, Deepak Kochhar, Venugopal Dhoot to CBI custody till Dec 28 |url=https://www.businesstoday.in/latest/corporate/story/icici-bank-videocon-fraud-case-court-remands-chanda-kochhar-deepak-kochhar-venugopal-dhoot-to-cbi-custody-till-dec-28-357811-2022-12-26 |access-date=2022-12-26 |website=Business Today |language=en}}</ref><br />
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The CBI filed a chargesheet in April 2023 against Kochhar, her husband Deepak, Dhoot, and six other individuals. On June 26, 2023, the investigative agency presented their arguments to a special court, seeking acknowledgment and acceptance of the chargesheet.<ref>{{Cite web |date=2023-06-26 |title=Chanda Kochhar misappropriated ICICI bank's fund for her own use: CBI to Court |url=https://indianexpress.com/article/cities/mumbai/chanda-kochhar-misappropriated-icici-banks-funds-for-personal-use-cbi-to-special-court/ |access-date=2023-06-27 |website=The Indian Express |language=en}}</ref><br />
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== Arrests ==<br />
On 23 December 2022, the [[Central Bureau of Investigation|CBI]] has taken into custody Chanda Kochhar as well as her husband, Deepak Kochhar.<ref>{{Cite news |last=Shukla |first=Saloni |title=Ex-ICICI bank CEO Chanda Kochhar's arrest a wake-up call for private banks: Experts |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/ex-icici-bank-ceo-chanda-kochhars-arrest-a-wake-up-call-for-private-banks-experts/articleshow/96503971.cms |access-date=2022-12-26}}</ref> And by 26 December 2022, Venugopal Dhoot had also been arrested by the investigation agency.<ref>{{Cite web |last=Livemint |date=2022-12-26 |title=ICICI Bank loan fraud case: Why has CBI arrested Videocon's Venugopal Dhoot? |url=https://www.livemint.com/news/india/icici-bank-loan-fraud-case-the-arrest-of-videocon-founder-venugopal-dhoot-and-cbi-custody-of-chanda-kochhar-11672036632789.html |access-date=2022-12-26 |website=mint |language=en}}</ref> Dhoot reportedly made an offer to turn himself in as an approver in the case, as reported by local media sources.<ref>{{Cite web |date=2022-12-26 |title=Venugopal Dhoot offers to turn approver in Videocon-ICICI Bank loan fraud case after CBI arrest |url=https://www.cnbctv18.com/business/venugopal-dhoot-offers-to-turn-approver-in-videocon-icici-bank-loan-fraud-case-after-cbi-arrest-15507181.htm |access-date=2022-12-26 |website=cnbctv18.com |language=en}}</ref><ref>{{Cite news |last=Inamdar |first=Nikhil |date=2022-12-30 |title=Venugopal Dhoot: How a 'loan scam' led to Videocon owner's downfall |language=en-GB |work=BBC News |url=https://www.bbc.com/news/world-asia-india-64073467 |access-date=2022-12-31}}</ref><br />
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== References ==<br />
{{Reflist}}<br />
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[[Category:Corporate scandals]]<br />
[[Category:Criminal investigation]]<br />
[[Category:Corporate crime]]<br />
[[Category:Financial scandals]]<br />
[[Category:Crime in Maharashtra]]<br />
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