ICICI Bank in line of CBI fire, stock slides 1.5%

NEW DELHI: Shares of ICICI Bank fell 1.56 per cent on the BSE on Thursday after reports surfaced that the CBI has registered an FIR in the Rs 3,250 crore ICICI Bank-Videocon loan case.

The Central Bureau of Investigation is also reported to be carrying out searches at the group headquarters in Mumbai and offices in Aurangabad.

The case pertains to Deepak Kochhar, ICICI Bank ex-CEO Chanda Kochhar's husband, and Videocon promoter Venugopal Dhoot who allegedly invested in Nupower months after the Videocon group got a loan from ICICI Bank in 2012, officials said.


The agency has turned its preliminary enquiry, in which it was probing the alleged nexus between Deepak Kochhar and Dhoot, into an FIR, ToI reported citing sources.

The sources said the office of NuPower Renewables Pvt (NRPL), the company owned by Deepak Kochhar, is also being raided.

There are allegations of involvement of Chanda Kochhar and her family members in the loan provided to the Videocon Group on a quid pro quo basis.

Shares of ICICI Bank closed 0.72 per cent down at Rs 365 on BSE.