AMN

The CBI has registered an FIR in connection with alleged irregularities in the three thousand 250 crore rupees ICICI Bank-Videocon loan case. An official said the investigating agency is carrying out searching Videocon headquarters in Mumbai and Aurangabad in Maharashtra since morning.

It is alleged that Videocon promoter Venugopal Dhoot allegedly invested crores of rupees in Nupower company, months after the Videocon group got the loan from the ICICI Bank in 2012. The agency had conducted a preliminary enquiry against Videocon promoter and unidentified others in March last year.

Chanda Kochhar quit as CEO and managing director of the ICICI Bank in October after allegations surfaced that her husband Deepak Kochhar and her family members benefited from a loan of Rs. 3,250 crore to the Videocon Group in 2012.

Videocon’s Venugopal Dhoot had an investment in NuPower Renewables, a company founded by Ms Kochhar’s husband.

After initially backing her, ICICI Bank announced that its board had decided to set up a “comprehensive enquiry” to investigate the charges against Ms Kochhar. As more allegations surfaced, a multi-agency probe was launched.