Chanda Kochhar-Videocon Scam: Inside The Rs 3,250 Cr Loan And Rs 64 Cr Bribery

Chanda Kochhar-Videocon Case: The ICICI Bank–Videocon loan fraud case took a decisive turn in July 2025 after the PMLA Appellate Tribunal held Chanda Kochhar, former MD and CEO of ICICI Bank, guilty of accepting a Rs 64 crore bribe in exchange for approving a Rs 300 crore loan to the Videocon Group. The ruling upheld charges filed by the Enforcement Directorate (ED), calling it a “clear case of quid pro quo."

The case traces back to allegations by the Central Bureau of Investigation (CBI) that ICICI Bank, under Kochhar’s leadership, sanctioned loans totalling Rs 3,250 crore to Videocon Group firms promoted by Venugopal Dhoot. These sanctions allegedly violated the Banking Regulation Act, RBI norms, and ICICI’s own internal credit policies.

Among the disbursals, a pivotal transaction took place in September 2009 when ICICI Bank sanctioned Rs 300 crore to Videocon International Electronics Ltd (VIEL), a group subsidiary. Just one day later, Rs 64 crore was transferred from Supreme Energy Pvt Ltd (a Videocon-linked firm) to NuPower Renewables Pvt Ltd, a company effectively controlled by Chanda Kochhar’s husband, Deepak Kochhar.