Loan Fraud Case: CBI arrests former ICICI CEO Chanda Kochhar, husband Deepak Kochhar

The Central Bureau of Investigation (CBI) Friday arrested former ICICI MD & CEO, Chanda Kochhar and her husband businessman, Deepak Kochhar in a case pertaining to cheating and criminal conspiracy.

According to sources, Kochhars are being arrested in connection with the loan sanctioned by the private bank when Chanda Kochhar was at its helm.

The two are likely to be produced on Saturday before a special court for want of custody.


The CBI is probing a case of criminal conspiracy and misuse of office against the Kochhar.

"On August 26, 2009, the bank under Chanda Kochhar sanctioned a loan of Rs 300 crore VIEL “in contravention of rules and policy by the sanctioning committee,” the first information report said. “On September 7, 2009, this loan was transferred to VIEL...On September 8, 2009, Dhoot transferred Rs 64 crore to NRL managed by Deepak Kochhar...this was the first major capital received by NRL to acquire its first power plant,” the FIR said.

Other than the CBI, the ED is probing them in a money laundering case and has arrested Deepak Kochhar during the course of its probe.