ICICI-Videocon case: Whistleblower levels fresh allegations against Chanda Kochhar

Updated:8 months, 3 weeks ago IST

New Delhi, Jun 02 (ANI): Whistleblower Arvind Gupta, who exposed the alleged Videocon loan fraud, has leveled fresh allegations of quid pro quo on ICICI Bank Managing director (MD) and CEO Chanda Kochhar in a second letter addressed to Prime Minister Narendra Modi. Gupta exclusively told ANI, "ICICI has been instrumental in funding Essar Group's global ventures particularly taking over of Essar Oil in United Kingdom, Essar Steel Minnesota (USA) and Algoma Steel (Canada). In course of time, these funds also became non-performing asset (NPA) and they had to face a lot of litigations. A part of these funds did come back, but to my assessment, a substantial amount of fund still remains NPA." In March 2016, Gupta had written a letter to PM Modi alleging wrong dealings between the bank, through Chanda Kochhar, and the Videocon Group to benefit her family. Thereafter, the Central Bureau of Investigation (CBI) called in a number of officials for questioning in the aforementioned case, including Umanath Venkat Naik, the director of NuPower Renewables, the former director of NuPower Renewables, Mahesh Pugalia, and Rajeev Kochhar, the brother-in-law of Chanda Kochhar

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