Case registered against Chanda Kochhar, others for allegedly cheating ICICI Bank
New Delhi, Jan 24: The Central Bureau of Investigation (CBI) has reportedly filed an FIR in connection with former ICICI Bank MD and CEO Chanda Kochhar case, and raids are said to be underway at four locations in Mumbai.
Kochhar is facing an inquiry on charges that she allegedly violated the bank's code of conduct and rules on conflict of interest.
CBI registered a case against Chanda Kochhar, the then MD and CEO of ICICI Bank, Deepak Kochhar, V N Dhoot, MD of Videocon group and others. It is alleged that accused sanctioned certain loans to private companies in a criminal conspiracy with other accused to cheat ICICI Bank, news agency ANI reported while quoting CBI sources.
In October 2018, Chanda Kochhar resigned from the ICICI bank in the wake of allegations against her. Kochhar also relinquished office from the board of directors of the bank's subsidiaries.
The board then decided to appoint Sandeep Bakhshi as Managing Director & Chief Executive Officer for a period of five years.
The bank has been in focus due to conflict-of-interest allegations by a whistle blower against Kochhar over loans to Videocon Industries which she has denied. It was alleged that she did not disclose business dealings of her husband Deepak Kochhar with the Dhoots of Videocon.