FIR filed in Kochhar case; Videocon, NuPower raided

The Central Bureau of Investigation (CBI), probing the allegation of alleged ‘quid-pro-quo’ in the loan granted to Videocon by ICICI Bank whose former CEO and MD was Chanda Kochhar, registered an FIR in the case. In a follow up to the FIR, searches are being carried out at four places including Videocon offices in Mumbai and Aurangabad and Nupower Renewables and Supreme Energy Pvt Ltd’s office at Nariman point in Mumbai.The preliminary enquiry ( PE) was to ascertain the veracity of accusations against Videocon chairman Venugopal Dhoot and Deepak Kochhar that Dhoot provided crores of rupees to a firm promoted by Deepak Kochhar six months after Dhoot's group got Rs 3,250 crores as loan from ICICI Bank. The said amount was a part of a loan of Rs 40,000 crores which Videocon received from a consortium of 20 banks led by State Bank of India.

from Economic Times http://bit.ly/2DvgPhf