The Central Bureau of Investigation (CBI) on Wednesday told a special court here that it received a sanction from the ICICI Bank's board to prosecute Chanda Kochhar, the former CEO and MD of the bank, in connection with a case of alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies. The probe agency, represented by special public prosecutor A Limosin, told the court that the board of ICICI Bank in a resolution passed on April 22 this year gave its sanction to the prosecution (against Kochhar), accepting that there seemed to be quid pro-quo.
The Supreme Court on Tuesday questioned the CBI over not objecting to repeated extension of the two-week interim bail granted in January this year to former ICICI Bank CEO-cum-MD Chanda Kochhar and her businessman husband Deepak Kochhar in a loan fraud case. A bench of Justices Aniruddha Bose and Bela M Trivedi asked Additional Solicitor General SV Raju, appearing for the CBI, as to why the probe agency did not resist repeated extension of interim bail granted to them by the Bombay high court on January 9. "This order is of January 9 and interim bail was granted for only two weeks. Why have you not resisted? Why are you permitting it to continue for such a long period?
The Ordnance Factory Chanda in Chandrapur district, Maharashtra, has cancelled all leaves for its employees, citing "national security and operational urgency." The decision comes after instructions from Munitions India Limited (MIL).
The arrest of ICICI Bank's former Managing Director and Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar by the Central Bureau of Investigation (CBI) in a loan fraud case was "without application of mind and due regard to the law", amounting to an "abuse of power", the Bombay high court has said. A division bench of Justices Anuja Prabhudessai and N R Borkar had on February 6 held the Kochhars' arrest as illegal and confirmed a January 2023 interim order passed by another bench granting them bail. In the order made available on Monday, the court said the CBI has been unable to demonstrate the existence of circumstances or supportive material based on which the decision to arrest was taken.
Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar on Tuesday approached the Bombay high court, calling their arrest by the Central Bureau of Investigation in a loan fraud case illegal. The high court, however, refused to grant an urgent hearing and directed the Kochhars to mention the matter before the regular bench once it resumes after vacation. A lawyer representing the Kocchars said that no prior sanction, as required under the law, was obtained by the CBI before their arrest.
The Supreme Court on Friday refused to entertain former ICICI bank managing director and CEO Chanda Kochhar's plea seeking retirement benefits from the bank. A bench of Justices Sanjiv Khanna and SVN Bhatti said, "Not a case for interference. We are not inclined to interfere with the high court order. "The special leave petition is dismissed." At the outset, senior advocate Harish Salve, appearing for Kochhar said the high court had dismissed the petition without any discussion or finding.
A special Central Bureau of Investigation court here on Wednesday extended till December 29 the CBI custody of former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group founder Venugopal Dhoot in connection with a loan fraud case. The probe agency arrested Kochhars last Friday after questioning them briefly. Dhoot was arrested on Monday.
The Kochhars were arrested by the Central Bureau of Investigation (CBI) last Friday. Dhoot was arrested on Monday. The three were produced before special judge S H Gwalani at the end of their earlier remand on Thursday.
Former ICICI Bank CEO and MD Chanda Kochhar was granted bail by a special PMLA court in Mumbai on Friday in connection with the ICICI Bank-Videocon money laundering case. The special court for Prevention of Money Laundering Act (PMLA) had on January 30 summoned Chanda Kochhar, her husband Deepak Kochhar, Videocon Group promoter Venugopal Dhoot and other accused in the case after taking cognisance of the Enforcement Directorate's (ED) charge sheet.
It is alleged that during the tenure of Chanda Kochhar, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies, in which in two cases she herself was on the sanctioning committees.
US Vice President J D Vance and his family visited the Amber Fort in Jaipur, India, on Tuesday. The family received a red carpet welcome and enjoyed a cultural performance featuring folk dances. The Amber Fort is a UNESCO World Heritage site and a popular tourist destination. The fort is known for its impressive architecture, including the Sheesh Mahal (mirror palace) and the Sukh Niwas (cooling palace).
The ED, early this year, also attached assets worth Rs 78 crore "in possession of" Chanda Kochhar, Deepak Kochhar and the companies owned and controlled by him.
ED orders Chanda Kochhar to appear with asset lists also provide income-tax returns in her individual capacity and of companies if she was a director or held any position.
Several Pakistani nationals visiting India started returning home through the Attari-Wagah land route in Amritsar on Thursday, a day after the Centre set a 48-hour deadline for them to leave the country. The decision came after India announced a raft of measures, including the expulsion of Pakistani military attaches, suspension of the Indus Water Treaty of 1960, and the immediate shutting down of the Attari land-transit post in view of the cross-border links to the horrific terror attack in Kashmir's Pahalgam that killed 26 civilians on Tuesday.
Rising sprinter Animesh Kujur and star hurdler Jyothi Yarraji picked up their third and second gold medals respectively at the National Games.
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender. Kochhar, a regular feature on Forbes top global honchos lists, was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. Kochhars were called to the agency headquarters and arrested after a brief questioning session. Her chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
The agency is also preparing to analyse the details of assets of the Kochhars and others so that they can be provisionally attached under the Prevention of Money Laundering Act
Out of the 10 gold on offer on the opening day of athletics competitions, Maharashtra and Services picked up two each, while Odisha, Himachal Pradesh, Delhi, Uttar Pradesh, Haryana and Tamil Nadu claimed one each.
The Bombay high court on Thursday dismissed a petition filed by Chanda Kochhar against her termination as the managing director and chief executive officer of ICICI Bank A division bench of Justices N M Jamdar and M S Karnik accepted the bank's contention that Kochhar's petition was not maintainable as the dispute was contractual and concerns a private body.
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The panel is believed to have examined each financial transaction between the Kochhar family and Videocon group, and the suspected trail of properties and assets that the family acquired since Chanda Kochar became ICICI Bank's MD.
Kochhar is required to assist the investigating officer of the case in taking the probe forward and her statement will be recorded under the Prevention of Money Laundering Act (PMLA).
Chanda is an above average film, though a lot was expected from it. Vijay's action sequences and S Narayan's flashes of brilliance in direction save the film. Shubha Poonja disappoints.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
The bench was hearing Kochhar's appeal against the March 5 order of the high court which had dismissed the plea against termination of her services as managing director and CEO of ICICI Bank while noting that the dispute arises from a contract of personal service.
The central bank filed an affidavit in response to a petition filed by Kochhar last month, challenging her ouster as the chief executive and managing director of ICICI Bank months after she voluntarily left the private sector lender. The bank, while terminating her employment, also denied her remuneration and rescinded the bonuses and stock options given to her from April 2009 to March 2018. She was accused of playing a role in grant of out-of-turn loans of Rs 3,250 crore to Videocon Group, which allegedly benefited her husband, Deepak Kochhar.
Waack Girls, that captures the moods of Kolkata, follows an oft-used template. So there's not much novelty to look for in the plot, but the actors are excellent, applauds Deepa Gahlot.
The CBI later clarified that Rajiv Kochhar was only called for questioning and has not been apprehended yet.
Registering his sixth straight victory, Harikrishna emerged as the sole leader with six points in the Gibtelecom Masters International Open Chess tournament.
The board has decided to appoint Sandeep Bakhshi as managing director and chief executive officer. His appointment will be for a period of five years until October 3, 2023, subject to various approvals.
'Durga Puja is also a time to catch up on the gossip and when the girls of the family get together it's a beautiful feeling that is hard to describe.'
Grandmasters Surya Shekhar Ganguly and GM Sandipan Chanda continued to share the lead with 5.5 points after the conclusion of the seventh round of the 42nd National 'A' Chess Championship.
RBI Governor Raghuram Rajan's decision to not seek a second term is a "personal one" which everybody should respect, Chanda Kochhar MD & CEO, ICICI Bank said.
Kochhar retires by rotation, and being eligible, has offered herself for reappointment as director, said the broking arm in a notice for its Annual General Meeting to be held on August 30
Justifying the transfer, the CBI pinned the blame on Mishra for keeping the preliminary enquiry pending without any reasons, they said.
'The true measure of Project Tiger's success is not just rising tiger numbers, but our ability to ensure harmonious human-wildlife coexistence'
Chanda passed away last night due to heart-related ailments at a MUmbai hospital yesterday evening.
The Calcutta high court on Tuesday directed that a resolution by the special college council members of R G Kar Medical College and Hospital to suspend 57 medics/students will not be effected, until and unless a decision is arrived at by the West Bengal government in this regard.
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
'Mrs shows a dark side to the son and the father.' 'I had to do things that I wouldn't dare to do in real life.'
