Apart from a loan of Rs 300 crore given to Videocon International Electronics Ltd (VIEL) and Rs 750 crore to Videocon Industries Ltd (VIL), other loans given to Videocon group included Rs 175 crore to Millennium Appliances India Ltd (MAIL) on June 30, 2009, Rs 240 crore to Sky Appliances Ltd (SAL) on November 17, 2010, Rs 110 crore to Techno Electronics Ltd (TEL) on November 17, 2010, and Rs 300 crore to Applicomp India Ltd (AIL) on May 30, 2011.
The loans given to SAL, TEL and AIL were for the purpose of enabling them to repay unsecured loans availed by these companies from VIL. A loan was also sanctioned to VIL for refinancing the existing loans of the company, which was against the credit policy of the bank during the relevant period.
“These loans have turned NPAs, resulting in wrongful loss to ICICI Bank and wrongful gain to Videocon group and the Kochhars. The role of senior ICICI Bank officers may also be investigated. ICICI Bank had also released the security available in the form of FDR of Rs 50 crore in the accounts of SAL and TEL without any justification,” the CBI said.
The accounts of Videocon and its group companies were declared NPAs on June 30, 2017.
The agency turned its preliminary enquiry (PE), registered in December 2017, into an FIR after it concluded that Kochhar had indeed connived with her husband and Dhoot and there was a “quid pro quo”. TOI had first reported the registration of PE against Deepak Kochhar and Dhoot on March 31 last year .
The CBI’s enquiry had begun on allegations that the Videocon group received loans worth Rs 3,250 crore from ICICI Bank, which were part of Rs 40,000-crore loans the group secured from an SBI-led consortium of 20 banks.