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Jaswanth Jegan
Founder-Hexpertify.c... • 1y
“ICICI CEO demands bribe to sanction Loan” Big Fat Corporate Scandal #1 In 2012, ICICI Bank sanctioned a loan of $500 million under Chanda Kochhar to the Videocon Group.After the loan was sanctioned Videocon group transferred ₹64 crore to NuPower Renewables via Supreme Energy owned by Deepak Kochhar,husband of Chanda Kochhar. Everything went normal until Videocon Group struggled to repay the loan it turned into a non-performing asset.Initially ICICI Bank conducted an internal review and started to suspect Chanda Kochhar.In 2018, as media reports and regulatory scrutiny increased CBI &ED started to investigate. The investigation led to the arrest of Deepak Kochhar & Chanda Kochhar in 2020 &filed an FIR against Venugopal Dhoot.As of now the case is ongoing & Deepak Kochhar remains involved in legal proceedings related to money laundering charges.
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