CBI produces Chanda & Deepak Kochhar in court, seeks 3-day custody

The Central Bureau of Investigation (CBI) on Saturday produced former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar before a special court in Mumbai, seeking a three-day custody for the couple.

The Kochhars were arrested on Friday by the CBI in connection with a loan fraud case involving bank officials and the Videocon Group.

The CBI has alleged that Chanda Kochhar had hatched a criminal conspiracy and released loans to six different companies.

The loan amount was several crore rupees and she had pressurized other banks to pass their loans.

After receiving a complaint, a case of fraud was filed by the CBI with the Mumbai branch in January 2019.

The probe agency has also moved an application to invoke IPC 409 against Chanda Kochhar.

According to a CBI official, the arrests were made based on the January 2019 filed against Chanda Kochhar, her husband and Venugopal Dhoot of Videocon Group.

Nupower Renewables, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited were also made as an accused in the FIR.

Dhoot allegedly invested crores of rupees in Nupower months after the Videocon Group got several hundred crore as loan from ICICI Bank in 2012

"We have also conducted search operations at their premises and have recovered a few documents connected to the case," the official said.

Further details are awaited.