Highly placed sources said that a lookout circular (LoC) has issued against Chanda Kochhar, accused of conniving with her husband Deepak Kochhar + and Videocon MD Venugopal Dhoot in cheating the private sector bank while disbursing six loans worth Rs 1,875 crore to Videocon group companies between June 2009 and October 2011.
After registration of FIR on January 22, the LoC issued against Deepak Kochhar and Dhoot have also been updated, sources added. Earlier, the LoCs were issued by the CBI against Deepak Kochhar and Venugopal Dhoot around March-April last year as part of its initial investigation (PE) in the ICICI Bank probe.
There were rumors of last year that an LoC was issued against Chanda Kochhar as well at that time, but the CBI officials have clarified that she has not named the PE, and an LoC against her is only issued after FIR.
The CBI officials, however, refused to disclose if the LoC against Chanda Kochhar is limited to “alert only” or has “detain” provision.
CBI sources further told TOI that they are also planning to soon call Kochhars and Dhoot for questioning to ascertain why such high value loans were given to Videocon group in contravention of banking regulation act, rbi guidelines + and the credit policy was OF ICICI Bank.
Chanda Kochhar has been accused by CBI + of taking a bribe from Dhoot through her husband for favouring the private group. One such payment – Rs 64 crore – 7 September, 2009 on Videocon International Electronics (VIEL), accounting for Rs 300 crore loan by ICICI Bank after one day after Dhoot to Deepak Kochhar’s company NuPower Renewables (NRL).
The CBI FIR in the matter also refers to the names of Sandeep Bakshi, current CEO & MD of ICICI Bank; KV Kamath, Chairman of New Development Bank of BRICS countries; Sonjoy Chatterjee, Chairman of Goldman Sachs India; K Ramkumar, former executive director of ICICI Bank; NS Kannan, MD & CEO of ICICI Prudential Life; Zarin Daruwala, CEO of Standard Chartered Bank India; Rajiv Sabharwal, MD & CEO of Tata Capital, and Homi Khusrokhan, board member of ICICI Bank.
Although the name of the accused was not registered in the FIR, CBI had said that these officers were on various sanctioning committees of ICICI Bank when loans were granted to Videocon group in violation of rules, leading to losses of Rs 1,730 crore to the bank.
Sources said that they have not decided on the roles of sanctioning committee members yet and the documents are being analyzed right now.
CBI FIRs have said that six loans – worth Rs 300 crore (August 26, 2009), Rs 750 crore (31 October 2011), 175 crore (30 June 2009), 240 crore (November 17,2010), Rs.110crore (November 17, 2010) and Rs 300 crore (May 30, 2011) were given to Videocon group companies.