I-T department issues notice to ICICI Bank’s CEO Chanda Kochhar’s husband
The uncertainty lies till the final outcome of the probe comes out, which will dampen the sentiment on ICICI Bank stock price, as the case is linked to the Videocon Group.
ICICI Bank was part of a 20-member consortium that lent about Rs40,000cr to the Videocon group. Some of the loans have now turned nonperforming assets. The CBI is trying to ascertain whether any influence was exerted on the banks to fund Videocon.
The agency is looking to the role of Deepak Kochhar, husband of ICICI Bank CEO Chanda Kochhar, and Videocon chairman Venugopal Dhoot, as well as some unnamed bank officials.
The CBI had questioned a few ICICI Bank officials as part of a preliminary enquiry to find if any quid pro quo was involved in the bank issuing a Rs3,250cr loan to the Videocon Group in 2012.