What is Videocon case?

The draft charges were proposed against former ICICI Bank MD and CEO Chanda Kochhar, her husband Deepak, Videocon group’s Venugopal Dhoot and others. The ED in its chargesheet had claimed that Kochhar accepted Rs 64 crore from Dhoot for sanctioning a loan of Rs 300 crore from ICICI Bank.

Why was Chanda Kochhar in jail?

The Enforcement Directorate (ED) on Tuesday submitted draft charges against former ICICI Bank CEO Chanda Kochhar, her businessman-husband and other accused in a special PMLA court here in connection with a money laundering case.

Who is Kochhar?

Chanda Kochhar (née Advani, born 17 November 1961) is the former managing director and chief executive officer of ICICI Bank. She, embroiled in a case of conflict of interest, stepped down from her position in 2018. Chanda Kochhar is currently facing alleged money laundering charges in India.

Where is Chanda Kochhar today?

Subsequently, she was sacked by ICICI Bank – a decision which was later upheld by the Supreme Court of India. After her exit, Sandeep Bakhshi, who was the interim Managing Director and CEO became the full-time MD and CEO of ICICI Bank. Chanda Kochhar is currently facing alleged money laundering charges in India.

What is Chanda Kochhar doing now?

Mumbai: Former ICICI Bank CEO Chanda Kochhar has been granted bail – on a bond of ₹ 5 lakh – by a Mumbai court in connection with an alleged money laundering case involving the bank and the Videocon Group.

Why Videocon is shutting down?

The Videocon group fell into a financial crisis after the Supreme Court cancelled its wireless telephony licence in 2012 and the group’s flagship company Videocon Industries’ investment in the telecom arm turned bad. According to the NCLT order, shares of Videocon Industries (VIL) and Value Industries will be delisted.

Who is MD of Icici?

Sandeep Bakhshi (Oct 15, 2018–)
ICICI Bank/CEO

Why Chanda Kochhar was removed?

Chanda Kochhar, who faces charges for alleged money laundering, had approached the top court after the Bombay High Court dismissed her petition against her sacking. Chanda Kochhar was sacked last year, months after she stepped down from the posts.