Chanda Kochhar convicted for ₹64Cr bribe in Videocon loan.
ICICI Bank’s former CEO Chanda Kochhar was involved in a bribe transaction of Rs 64 crore in lieu of approving a loan of Rs 300 crore to Videocon Group. This decision has been ruled by a Delhi appellate tribunal.
In the judgment, the court accepted the ED allegations that said that Kochhar misused his position in the bank and violated the disclosure norms.
The tribunal found that a day after Videocon received a loan, bribe money was given to Videocon’s account of SEPL, a company of Kochhar’s husband Deepak Kochhar, a company Nupower Renewables Private Limited (NRPL).
Tubunal said the Nupower Renewables Private Limited (NRPL) owned on paper was shown near Videocon Chairman Venugopal Dhoot, but its real control was with Deepak Kochhar. Deepak was also the managing director of (NRPL). Therefore, the allegations of the appellants are correct.
