Welcome to StayInform, in this article today we will know about the icici-videocon case summary. The ICICI-Videocon case is one of the most important corporate fraud investigations in India.
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About Chanda Kochhar
Kochhar was born in Jodhpur, Rajasthan, to a Hindu Sindhi family. He studied at St. Angela Sophia School in Jaipur and then moved to Mumbai. He graduated with a Bachelor of Commerce degree from the University of Mumbai. He won the Wockhard Gold Medal for Excellence in Management Studies and the J.N. Bose Gold Medal in Cost Accounting.
ICICI-Videocon Case Summary
The mastermind of this fraud is Chanda Kochhar (former MD and CEO of ICICI Bank). Deepak Kochhar and Venugopal Dhoot (promoters of Videocon Group) are also involved in this fraud (2009 to 2012). After this, the investigation started in 2018.
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Allegations And Financial Investigation
When Chanda Kochhar was MD and CEO, ICICI Bank sanctioned loans of Rs 3,250 crore to Videocon group companies.
In September 2009, a loan of Rs 300 crore was disbursed to the Videocon Group, and the next day, Rs 64 crore was transferred to NuPower Renewables Pvt Ltd (NRPL), a company controlled by Deepak Kochhar. This transaction clearly shows that the transaction was nothing but money laundering and that Kochhar used her position for her husband’s business interests.
Legal Proceedings And Tribunal Outcome
After the incident came to light, the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) initiated an investigation under the Prevention of Money Laundering Act (PMLA) and in July 2025, an appellate tribunal convicted Chanda Kochhar of accepting a bribe of 64 crores for sanctioning the loan.
Court’s Observation
Despite her husband’s financial ties with Videocon, Kochhar participated in all matters related to the sanction of the loan and her action violated ICICI Bank’s internal policy, RBI guidelines and the Banking Regulation Act.
What is the case of ICICI Bank and Videocon?
The Central Bureau of Investigation (CBI) has found that between June 2009 and October 2011, ICICI Bank allegedly violated its own policies.
Who is the ex-CEO of ICICI Bank?
Chanda Kochhar, is ex Managing Director (MD) and Chief Executive Officer (CEO) in 2009.
What is the salary of Chanda Kochhar per month?
Chanda Kochhar’s per day income of Rs 2.15 lakh; basic salary. Chanda Kochhar’s basic salary increased by 15% to Rs 2.67 crore in FY17,
What is the chargesheet of Chanda Kochhar?
The Central Bureau of Investigation (CBI) had filed an extensive chargesheet of over 11,000 pages against Kochhar, her husband Deepak, and V N Dhoot, the promoter of Videocon Group.
What is ICICI full form?
The full form of ICICI is Industrial Credit and Investment Corporation of India.
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