- Whistleblower caught the scam...

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- It is written in the CBI charge sheet that Chanda gave the loan even though he knew that the loan was going to default

The bankers of the country wanted time to take Chanda Kochhar's economic advice, Chanda Kochhar is being entangled with Chomer and it is being alleged that he has slandered ICICI Bank, the bank in which he was the chairman.

The Central Bureau of Investigation told a special court last Monday that ICICI Bank's former CEO and MD Chanda Kochhar had misappropriated funds from the bank's lender for personal use.

The investigating agency, represented by the Special Public Prosecutor, gave the special court details of how the fraud was committed in sanctioning the loan. Chanda Kochhar ran Laliyawadi in the case of loan issuance.

Several arguments were made while pleading for taking cognizance of the charge sheet filed against Chanda Kochhar, her husband Deepak Kochhar and others in the case of such irregularities.

The CBI told the court that Chanda Kochhar was the MD and CEO of ICICI Bank between May-2009 and January-2019, in which the bank's funds were entrusted to him. When Chanda Kochhar was a bank clerk, she arbitrarily gave a loan to her husband's friend and the owner of Videocon.

The CBI had argued that Chanda Kochhar was oblivious to all the shortcomings of the borrowers despite the fact that loans could not be given to such companies as per Reserve Bank of India guidelines and ICICI Bank's loan policies. One was the CEO of Chanda Kochhar Bank and the other was fully trusted by the directors of his bank.

The CBI has written in the chargesheet that Chanda Kochhar along with other accused conspired to grant or obtain credit facilities in favor of Videocon group companies. Chanda Kochhar misused her position and gave loan to Videocon.

Chanda Kochhar furthered his plan by preparing a scheme to give a loan to Videocon. In August 2009, a committee of directors headed by Chanda Kochhar, to mislead the bank, directed Videocon International Electronics Ltd to pay Rs. 300 crore term loan was sanctioned.

The loan amount was disbursed through a complex structure involving various companies of Videocon and under the guise of investing Rs. 64 crore was transferred, the court was told.

On the one hand, non-performing assets (NPAs) were increasing in the country, on the other hand, the CEO of the bank, Chanda Kochhar, was lending money to her husband's friend. Chanda Kochhar knew that her husband's friend and the owner of Videocon could not repay the money even though she had been lent crores of rupees. A whistleblower named Arvind Kochhar blew the whistle on Chanda Kochhar and exposed him.

The staff of Chanda Kochhar's bank could not say anything about their scam as Chanda Kochhar had a great influence over them and even the directors of the bank could not say anything against Chanda Kochhar. Even when Chanda Kochhar made a big fuss over the loan he issued to Videocon, the bank directors remained silent.

No matter how high a person is, the crime committed by him is caught sooner or later. Chanda Kochhar was fully trusted by his bank. But when he felt that there was no one to check me now, he came into the conversation of Venugopal Dhootni of Videocon and her husband and betrayed the bank. He knew that 3000 crores were going to be sunk, but he issued the loan thinking it was his father's Diwali.