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Other cases under special scrutiny include multi-crore PNB fraud case, AgustaWestland chopper deal, business tycoon Vijay Mallya loan fraud, and INX Media case.
Clawing back Kochhar’s bonuses and stock options can’t absolve the directors, whose about-face has come far too late.
The agency officials were of the view that findings of its preliminary enquiry indicated that Kochhar had colluded with VN Dhoot of Videocon Group in clearing the loans.
On a standalone basis, net income slipped to Rs 1,604 crore from Rs 1,650 crore a year ago. The major reason for a thinner bottomline is higher provisions along with a poor show by most of its subsidi
The enquiry report submitted by Justice (Retd) B N Srikrishna Wednesday concluded that there was lack of diligence with respect to annual disclosures and violation of code of conduct, on her part.
The CBI is carrying out scrutiny of the documents seized during searches at the offices of Videocon Group and Nupower Renewables and Supreme Energy.
On January 27, a CBI officer, part of a probe into the ICICI Bank loan case, was transferred, with the top officials claiming that he was suspected of leaking information to the accused.
One of the reasons why our conviction rates are poor is that adventurism and megalomania overtakes our investigators and professionalism takes a back seat,” Jaitley wrote.
Going by the address of Videocon Industries as given in the FIR, the actual CBI raid should have taken place in the 17th-floor office on the B-Wing of the sprawling Mittal Court complex.
It is alleged that Videocon promoter invested crores of Rupees in Nupower, a company managed by Kochhar and her husband, months after the Videocon group got Rs 3,250 crore as loan from ICICI.
The agency had registered a preliminary enquiry against Videocon promoter Venugopal Dhoot, Deepak Kochhar and unidentified others in March last year, they said.
The bonds, carrying a coupon of 9.90 per cent per annum, are rated AA+ by rating agencies CARE, ICRA and Crisil.
There are allegations of involvement of former ICICI Bank chief Chanda Kochhar and her family members in a loan provided to Videocon Group on a quid pro quo basis.
ICICI Bank on Wednesday announced that it aims to grow its retail loan disbursement in Tamil Nadu by over 40% to Rs.13,000 crore in FY’19.
ICICI Bank on Wednesday announced that it aims to grow its retail loan disbursement in Tamil Nadu by over 40 per cent to Rs 13,000 crore in 2018-19 financial year (FY19).