ICICI Bank Rs. 3,250 Crore Loan Case: Latest Developments

ICICI Bank Rs. 3,250 Crore Loan Case: Latest Developments

Venugopal Dhoot said that he didn’t know whether Chanda Kochhar was related to ICICI Bank when the bank had offered credit to his firm

The case more or less: according to a daily paper report, Videocon Group’s Venugopal Dhoot, in 2008, set up an organization Nupower Renewables with Deepak Kochhar, spouse of ICICI Bank’s overseeing executive and CEO Chanda Kochhar, and two of her relatives. Mr. Dhoot later loaned Rs. 64 crore advance to this organization through Supreme Energy, a substance possessed by him. Afterward, he exchanged the responsibility for a substance to a trust headed by Deepak Kochhar for a pitiful measure of just Rs. 9 lakh, The Indian Express examination found.

What Does “Venugopal Dhoot” Say: He says that he didn’t know whether Chanda Kochhar was related to ICICI Bank when the bank had offered an advance to his firm, PTI revealed. About his stake in Nupower, he said that he contributed Rs. 2.5 lakh in it since he routinely puts little sums in new businesses. Be that as it may, he chose to leave the venture of Rs. 2.5 lakh as Videocon found oil saves which were not lined up with the matter of Nupower, and restored his 50 for each penny stake to Deepak Kochhar, in this way exchanging the control of the organization to Kocchar.

Dhoot said that he knew Deepak Kochhar through his companion and IAS officer, previous Maharashtra boss secretary Sharad Upasani. He had no contact with either Deepak Kochhar or Chanda Kochhar after the arrival of the stake of Nupower.

On Chanda Kochhar, Dhoot said that she didn’t do anything illicit. She was just a single of the 12 individuals from the panel which cleared the advance to Videocon Group. He additionally said that he knew every one of the 12 individuals, and board of trustees’ head Kamath used to eat with him.

What Does ICICI Bank Say: The bank remains by Chanda Kochhar. The private bank said that the choice to loan the cash was not exclusively taken by Chanda Kochhar. The Credit Committee of ICICI Bank in 2012 endorsed its offer of offices in the syndicated game plan to the Videocon Group. She was not the advisory group’s administrator. It was a 12-part advisory group headed by then administrator KV Kamath. Other than this, ICICI Bank gave a section (Rs. 3,250 crores) of the huge credit of Rs. 40,000 loaned by a consortium of 20 banks. Along these lines, this implies ICICI Bank gave under 10% of the aggregate credit given by 20 banks.

Most Recent Developments in ICICI Bank’s Rs. 3,250 Crore Loan Case:

A. CBI documented a preparatory inquiry (PE) into the claimed nexus between ICICI Bank’s Chanda Kochhar and Venugopal Dhoot. The government organization has just analyzed a couple of authorities of ICICI bank.

B.”Chanda Kochhar’s” name has not been named in the inquiry.

C. It is trusted that “Deepak Kochhar” and “Venugopal Dhoot” will be called in a matter of seconds for examination by the government office.