Global News

[ad_1] MUMBAI: Former ICICI Bank CEO Chanda Kochhar accepted " illegal gratification " of Rs 64 crore other than legal remuneration as a motive or reward and also "misappropriated the bank's funds for her own use", submitted the prosecution on Monday, urging the special CBI court to take cognisance of the chargesheet against Kochhar, her husband Deepak Kochhar and Videocon promoter Venugopal Dhoot in a Rs 3,250-crore loan fraud case. The CBI, through special public prosecutor A Limosin, said she conspired with the other accused to sanction credit facilities in favour of companies of the Videocon Group. The court will continue to hear arguments on July 3. In furtherance of a criminal conspiracy on August 26, 2009, a rupee term loan of Rs 300 crore was sanctioned to M/s Videocon International Electronics Limited by the ICICI bank committee of directors headed by Kochhar, said CBI. The loan amount was disbursed on September 7 and through a complex maze i...