CBI arrests Chanda Kochhar and Deepak Kochhar in cheating case

The CBI on Friday arrested former MD and CEO of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar. In March 2018, Chanda Kochhar was accused of abusing her position to give pecuniary advantage to her husband. Following the allegations, Chanda resigned as CEO and MD of ICICI Bank in October 2018.

According to media reports, ICICI Bank had given a loan of Rs 3,250 crore to Videocon Group. Videocon Group did not repay 86% of this loan (about Rs 2810 crore), after which this loan was put in NPA (Non Performing Assets) in 2017. In May 2020, ED had questioned Chanda Kochhar and her husband in a loan of crores of rupees and other matters related to it. After questioning, the ED arrested Chanda Kochhar's husband Deepak Kochhar.

Chanda Kochhar joined ICICI Bank in 1984 as a Management Trainee. When ICICI became a wholly owned banking company in 1994, Chanda Kochhar was made the Assistant General Manager. After this, Chanda Kochhar continued to climb the stairs of success. Through the posts of Deputy General Manager, General Manager, the bank made him Executive Director in 2001. After this he was entrusted with the responsibility of looking after the corporate business. Then she was made the Chief Financial Officer.

In 2009, Chanda Kochhar was made the CEO and MD. Under the leadership of Chanda Kochhar, ICICI Bank stepped into the retail business, in which it got immense success. It is a proof of his merit and his contribution in the banking sector that the Government of India awarded Chanda Kochhar with its third highest civilian honor Padma Bhushan (in 2011). Chanda Kochhar resigned in October 2018 following allegations of impropriety by the bank's borrower company Videocon Industries regarding investments in Kochhar's husband's company.