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Chanda Kochhar Found Guilty in ICICI-Videocon Loan Case by Tribunal
The Business Guardian
|July 23, 2025
Chanda Kochhar has been found guilty by the SAFEMA tribunal in the ICICI-Videocon loan case, reversing an earlier clean chit and backing ED's money laundering charges.
In the ICICI Bank-Videocon loan matter, the Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) has found former ICICI Bank CEO Chanda Kochhar guilty of accepting a 64 crore bribe in return for sanctioning a 300 crore loan to the Videocon Group in 2009. This order overturns the earlier clean chit she received from the PMLA Adjudicating Authority and supports the Enforcement Directorate's (ED) provisional attachment of her assets, framing the transaction as a prima facie case of money laundering.
The Tribunal underscored a clear conflict of interest in Kochhar's approval of the loan. Shortly after disbursing the funds to a Videocon entity, 64 crore was traced to NuPower Renewables Pvt. Ltd. (NRPL), a company promoted by her husband Deepak Kochhar. This sum was funneled via Supreme Energy Pvt. Ltd. (SEPL), which is reportedly linked to Videocon's promoter Venugopal Dhoot.
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