The Central Bureau of Investigation (CBI) registered a case against Chanda Kochhar, the former MD & CEO of ICICI Bank, her husband and MD of NuPower Renewables, Deepak Kochhar and V N Dhoot, MD of Videocon group and others.
The agency conducted search operation on Thursday, covering offices of NuPower and Supreme Power. CBI also searched headquarters of Videocon Group in Mumbai and Aurangabad.
It is alleged that accused sanctioned certain loans to private companies in a criminal conspiracy with other accused to cheat ICICI Bank.
According to CBI sources, raids are underway in four locations in Mumbai in connection with the case, reported ANI on Thursday.
Chanda Kochhar has been accused of misusing her position in the company by allegedly provided a Rs 3,250 crore loan to the Videocon Group on quid pro quo basis in 2012. Soon after receiving the loan the Videocon group invested in NuPower.
(WIth ANI input)
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