India’s premier investigating agency, the Central Bureau of Investigation (CBI), has charged ICICI Bank’s former CEO Chanda Kochhar with defrauding the ICICI Bank. Apart from Chanda Kochhar, her husband Deepak Kochhar and Videocon head Venugopal Dhoot, have also been named in the FIR. As per the FIR filed by the CBI, Kochhar misused her position and sanctioned unscrupulous loans, which cost the private lender of Rs 1,720 crore.
The agency said Videocon was given loans after Chanda Kochhar took charge as MD-CEO of ICICI Bank on May 1, 2009. The sanctioning committee, of which Chanda was a part, approved a loan of Rs 300 crore to Videocon International Electronics Ltd (VIEL) and Rs 750 crore to Videocon Industries Ltd (VIL).
The CBI also said that Dhoot had invested crores in Mr Kochhar’s NuPower Renewables months after the firm received a huge loan from the ICICI.
As per a media report, in total, the private lender gave nod to six high-value loans to various Videocon companies between June 2009 and October 2011. As per the FIR, the loans worth Rs 1,575 crore given to Videocon, had turned into non-performing assets (NPA).
Now in a surprising turn of events, the CBI officer – Sudhanshu Dhar Mishra, who was part of the Banking and Securities Fraud Cell, has now been transferred. He has been replaced by Biswajit Das in Delhi. His transfer orders came just a day after the agency filed the FIR.
Also, just two days prior to Mishra’s transfer, Arun Jaitley took to social media and questioned actions by the CBI against Chanda Kochhar.
Here is the tweet by Arun Jaitley:
My advice to our investigators – avoid adventurism and follow the advice given to Arjun in the Mahabharata – Just concentrate on the bulls eye.
— Arun Jaitley (@arunjaitley) January 25, 2019
Here’s how Netizens reacted when the news of Mishra’s transfer hogged headlines:
Sad, honestly and honest people always suffer the most.
— Manmeet (@msgoindi59) January 27, 2019
चौकीदार ही चोर है
— mh (@maheshk43399845) January 27, 2019
Wah modi ji wah😖
— vick (@vicksingh333) January 27, 2019
चोर – चोर मौसेरे भाई
— shahzad (@arian290360) January 27, 2019
TACTICS TO DELAY WHY .SOMETHING FISHY OR? CBI IS BEING FORCED TO WORK THROUGH POLITICIANS IS HAPPENING FOR THE LAST YEARS THAT IS THE REASON GOONS MADE TO FLEE WITH TRILLIONS .TOTA MADE CORRUPT NOW WHAT MORE ?
— Janak Kumar (@kumarjanak2) January 27, 2019
नोट बंदी के श्राप से ही झूठली जी का किडनी खराब हुआ था। जनता का श्राप खाली नही जाएगा
— गोदी मिडिया 🇮🇳 🔵 (@AapKaZafar) January 27, 2019
Waah Kaitley ji Waah.Daal mein sab kuch kaala hein…
— shenaz Irani (@shenaz_irani) January 27, 2019
Very specialised Chowkidaari by our so called Chowkidaar.
— Tanttu (@TanttuG) January 27, 2019
Majak Bana Rakha hai CBI ka..
— Common Man (@dudes1525) January 27, 2019
The agency has leveled Indian Penal Code sections related to criminal conspiracy, cheating and provisions of the Prevention of Corruption Act on all the accused. As per the FIR, the CBI also wants to investigate role of some top names in Indian banking industry in connection with clearing these loans.