On Tuesday, December 1, 2020, the Supreme Court rejected Kochhar’s appeal against the Bombay HC order upholding her sacking as the CEO and MD of the ICICI Bank. Kochhar was sacked last year after which the board also decided to take back all the bonuses given to her since 2009 when she took the charge of the post.
Earlier, the Bombay High Court had dismissed her petition against the bank’s decision. Aggrieved by it, she approached the Apex court. But the apex court also dismissed her petition and said, “This falls within the realm of private bank and employees. Sorry, we are not inclined to interfere with the High Court Order.” Earlier in March 2019, the Bombay High Court dismissed her plea against the termination of employment.
On March 29 2018, it was first reported by the media that Videocon promoter Venugopal Dhoot provided crores of money to the firm she had set up with her husband Deepak Kochhar and two relatives just six months after Videocon has been given a loan of Rs 3,250 Crores from ICICI Bank in 2012 and this made Chanda Kochhar and the bank to come under regulatory scrutiny. Kochhar thereafter applied for early retirement which was accepted by the board of directors of ICICI Bank. The committee of Justice BN Shrikrishna was appointed to investigate the loan granted by ICICI Bank to Videocon and side by side Deepak Kochhar, husband of Chanda Kochhar was also investigated for sudden investments by Videocon in his company, Nupower Renewables. However, Justice Shrikrishna's committee found Kochhar guilty in January last year and with this, the Director Board of ICICI Bank terminated her employment. Moreover, the board took action after they received the inquiry report and considered it with due consultation.
ED to File Status Report on 14th October 2020 in ICICI Bank Videocon Money Laundering Case
Business
Oct 10, 2020
VANDANA KOTHARI
(
Editor: Ekta Joshi
)
1 Shares
On September 7th 2020, Mr. Deepak Kochhar, husband of former ICICI Bank chairperson Chanda Kochhar, was arrested for being in connection to the ICICI Bank- Videocon money laundering case under the provisions of the Prevention of Money Laundering Act (PMLA) by the Enforcement Director for the purpose of questioning. The money laundering case is based on a CBI’s FIR against the couple and others for defrauding ICICI Bank by granting loans illegally in lieu of kickback.Mr. Kochhar was in...
Former ICICI Bank chief Chanda Kochhar’s husband arrested over money laundering charges
Business
Sep 09, 2020
Shreya Tulavi
(
Editor: Ekta Joshi
)
7 Shares
The Enforcement Directorate (ED) Monday (September 7, 2020) arrested Deepak Kochhar, husband of former ICICI Bank chief Chanda Kochhar, in connection with its money laundering probe into loans disbursed by ICICI Bank to Videocon group for alleged pecuniary considerations. An ED source said Deepak had been called for questioning in connection with some “fresh evidence of money trail” in the case. However, after he refused to come to Delhi citing the pandemic, he was questioned by a team of...
313 Views
Facebook Comments