The-ICICI-Videocon-Loan-Scam presentation

Compan Scam

1. The ICICI-Videocon
Loan Scam
The ICICI-Videocon loan scam is a high-profile case of corporate fraud
and abuse of power involving Chanda Kochhar, the former Managing
Director of ICICI Bank, and her ties to the Videocon Group. The scandal
has rocked India's financial sector and raised questions about
governance at the highest levels of banking.
by Reeta Gupta

2. Uncovering the Conspiracy
1 Loan Approval
Between June 2009 and October 2011, ICICI Bank approved loans totaling
₹3,250 crore to Videocon Group companies, despite its own policies.
2 Non-Performing Assets
The loans were declared non-performing assets in 2012, resulting in a loss
of ₹1,730 crore for the bank.
3 CBI Investigation
The Central Bureau of Investigation uncovered the criminal conspiracy and
filed a chargesheet against Kochhar, her husband, and others in April 2023.

3. Arrests and Implications
Arrests
Chanda Kochhar, her husband Deepak, and
Videocon's Venugopal Dhoot have all been
arrested by the CBI as part of the
investigation.
Approver Status
Dhoot reportedly offered to turn himself in
as an approver in the case, indicating a
willingness to cooperate with authorities.
Impact on ICICI Bank
The scandal has severely damaged the
reputation of ICICI Bank and raised concerns
about corporate governance in India's
banking sector.
Regulatory Scrutiny
The case is being closely watched by financial
regulators, who are likely to intensify their
oversight of lending practices and conflicts of
interest.

4. Ongoing Investigations and Accountability
1
Criminal Charges
The CBI has filed criminal
charges against the key
individuals involved, signaling
a determination to hold them
accountable.
2
Civil Proceedings
In addition to the criminal
case, the authorities are likely
to pursue civil actions to
recover the lost funds and
impose penalties.
3
Regulatory Reforms
The scandal is expected to
spur regulatory reforms to
strengthen corporate
governance and lending
practices in the Indian
banking industry.