According to an internal investigation report of ED, exclusively reviewed by HT, the total loans — fresh loans or renewal of loans, guarantees — worth Rs7,862.20 crore were sanctioned by the private bank to Videocon Group companies between May 2009 and June 2017. Some of these loans were as high as Rs 2,870 crore (April, 26, 2012, to Videocon Industries Limited [VIL] and its group companies); the most recent was on June 28, 2017 (~166.4 crore to VIL). Dhoot declined comment and ICICI Bank did not respond to ane-mail seeking comment. ED has also termed the flat at CCI Chambers in Churchgate, Mumbai, where Chanda Kochhar lives, as an “illegal gain”; she has lived there since 1997. The former top banker and Padma Bhushan awardee had to step down from the ICICI Bank last October after allegations of misconduct and corruption against her.

Source: Hindustan Times May 17, 2019 01:30 UTC