Mumbai
ICICI, the second largest bank in the private sector, was surrounded by questions when a bribe was revealed from the bank for a loan of Rs 300 crore. Ignoring the rules and keeping the banking acts on the banks, former CEO Chanda Kochhar issued a loan of Rs 300 crore to Videocon Group. In lieu of this loan, he took a bribe of Rs 64 crore. Now Chanda Kochhar is badly trapped in this loan rigging case.
According to the report, Appellate Tribunal has accepted the ED report as correct and has been convicted in the Videocon Loan Scam case. The Tribunal said in its report on July 3 that Chanda Kochhar had taken a bribe of Rs 64 crore in exchange for a loan to Videocon. Assuming the ED’s arguments as correct, the tribunal said that all the evidence is testifying that Chanda Kochhar took a bribe of Rs 64 crore from Videocon Group through her husband.
How did Chanda Kochhar played full
The tribunal said that ED has given evidence related to this scam, which includes statements under Section 50 of the PMLA Act. These statements are valid. Chanda Kochhar took a bribe by ignoring the banking manual for a loan of Rs 300 crore to Videocon. Companies’ papers were manipulated for bribe money. The amount of bribe was rooted through Nupavar Renewables Private Limited (NRPL). The company was owned by VN Dhoot, he was the CMD of Videocon, but actually the entire control over the company was of Chanda Kochhar’s husband Deepak Kochhar.
Property worth Rs 78 crore will be seized
The tribunal reprimanded the earlier authority, justifying the allegations of the ED, in which Chanda Kochhar was relieved from the allegations. It was also said that Chanda Kochhar ignored the rules and policies of the bank while staying in the loan sanctioning committee. The day a loan of Rs 300 crore was passed to Videocon. The very next day, Videocon’s company SIPL transferred Rs 64 crore to NRPL. Now his property will be seized again, including his Mumbai Churchgate flat. Please tell that Chanda Kochhar is still out on bail, but the case is going on.