Chanda Kochhar’s fraud was well known in Finance Ministry from 2010 and then Finance Minister Chidambaram even gave clearance to Videocon to engage in oil exploration in Mozambique in 2012
At last, the law caught former ICICI Bank head Chanda Kocchar, the glamour girl of India’s Banking sector for providing loans to felicitate kickbacks to her husband. The CBI has booked former ICICI Bank CEO Chanda Kochhar, her husband Deepak Kocchar and Videocon group Managing Director Venugopal Dhoot for cheating and corruption in sanctioning loans to the company, which caused a loss of Rs 1,730 crore to the bank.
Finance Ministry was giving clearance to Indian Banks including lead banker ICICI to provide Rs.40,000 crores to Videocon to explore oil and gas in Mozambique
Chanda Kocchar and her husband were first exposed in the public domain by PGurus on March 25, 2018. This is the report which collapsed the ICICI Bank head’s fraud: The ICICI Bank reacted to our report by a dillydallying statement next day . After ICICI Bank’s response, Indian Express carried the report, leading to the public outrage.
India’s every media was hushing-up the frauds in the ICICI Bank in providing huge loans of above Rs.3500 crore to Videocon Group and the Chanda Kochhar’s husband was taking money from the Videocon to his firms. On March 2016, one small investor body’s President Arvind Gupta filed the complaint to Prime Minister Narendra Modi and all Chiefs of investigation agencies including top officers of Finance Ministry. Gupta was knocking all doors of media houses and all promptly ignored due to advertisement pumping of ICICI Bank. Then another person Anil, who is running an NGO also filed a similar complaint and it was published in the magazine owned by the complainant. Arvind Gupta also published the complaint his blog too, frustrated over the media blackout. In other words, till PGurus published the expose based on Arvind Gupta’s complaint on March 25, 2016, all were keeping silence.
Chanda Kochhar’s fraud was well known in Finance Ministry from 2010 and then Finance Minister Chidambaram even gave clearance to Videocon to engage in oil exploration in Mozambique in 2012. Finance Ministry was giving clearance to Indian Banks including lead banker ICICI to provide Rs.40,000 crores to Videocon to explore oil and gas in Mozambique. Till date, no action is taken why Chidambaram approved Videocon, who was already defaulter and caught in many scams including 2G scam to provide Rs.40,000 crores by Indian banks to explore oil and gas in African country. PGurus on April 4, 2018 reported this gigantic loot‘.
The agency had registered a preliminary enquiry on the allegations that Rs 3,250 crore worth of loans were sanctioned by the bank to companies associated with the Videocon group in violation of the laid-down norms
After almost a year, CBI has booked Chanda Kochhar as Accused. Some top names in the banking industry – present CEO of ICICI bank Sandeep Bakshi, Sonjoy Chatterjee, Zarin Daruwala, Rajiv Sabharwal,
K V Kamath and Homi Khusrokhan – have also come under the scanner as they were part of the ICICI bank committees clearing some of the six loans worth Rs 1,875 crore given to the Videocon group and associated companies, said CBI officials.
Following the registration of the FIR late Wednesday night, the agency officials swooped down at four locations in Mumbai and Aurangabad early morning Thursday — offices of the Videocon group, Nupower Renewables — the company run by Deepak Kochhar and Supreme Energy — once promoted by Dhoot.
The agency had registered a preliminary enquiry on the allegations that Rs 3,250 crore worth of loans were sanctioned by the bank to companies associated with the Videocon group in violation of the laid-down norms.
It was also alleged that Rs 64 crore was invested by Dhoot through one of the companies, Supreme Energy, founded by him, which was alleged as quid pro quo in the complaint that triggered the preliminary enquiry.
 Chidambaram knew the ICICI Bank – Videocon Rs.40,000 crore loan and other dubious deals – Apr 4, 2018, PGurus.com