Shocking Details! ICICI Bank Fraud Case: Chanda Kochhar Allegedly Threatened To Share Jail Room With Indrani Mukerjea

The Central Bureau of Investigation (CBI) chargesheet against former ICICI Bank CEO Chanda Kochhar and others in the Rs 3,250 crore loan fraud case has exposed a web of alleged conspiracy involving Videocon Group promoter VN Dhoot and Chanda Kochhar's husband, Deepak Kochhar, according to The Times of India report. The 11,000-page document includes statements from a witness, an independent director in about 20 Videocon Group companies, who shed light on an argument between Deepak Kochhar and VN Dhoot over ownership of a flat.

According to the witness as quoted by The Times of India, the heated altercation occurred at Hotel Oberoi sometime in 2016. Dhoot claimed ownership of the CCI Chambers flat, which was originally purchased in 1996 for Rs 5.25 crore in the name of Credential Finance Ltd, with Videocon Group and the Kochhars as stakeholders. Credential Finance defaulted on a loan from SBI Home Finance, leading to the flat being placed as security. In 2009, Videocon Group paid the SBI dues and transferred ownership of the apartment to Quality Appliances Pvt Ltd, a group company. In 2016, all shares of Quality Appliances Pvt Ltd were acquired by Deepak Kochhar's trust, Quality Advisors, for Rs 11 lakh.

During the argument, Deepak allegedly threatened Dhoot, demanding the transfer of the flat's ownership to his family or Chanda Kochhar would declare Videocon Group's accounts with ICICI Bank as non-performing assets (NPAs). In response, Dhoot was quoted as saying, "Chanda would land up sharing a room with Indrani Mukerjea." This statement alludes to the infamous 2012 murder case involving Indrani Mukerjea, who was in jail at the time of the alleged argument.

The witness further disclosed that there was a trust deficit between Dhoot and Deepak, which led Dhoot to appoint a proxy along with an ex-BMC commissioner on the board of Deepak's company.

In another revelation, the witness disclosed that in 2010, Dhoot informed him that Deepak Kochhar was pursuing him for further investments to increase wind power capacity in NuPower Renewables Ltd (NRL). To avoid uncomfortable situations with Deepak, Dhoot allegedly transferred his equity shares in SEPL to the witness on paper as a proxy shareholder. Though Dhoot had already resigned from the directorship of SEPL, he wanted to safeguard his investment in the company.

The chargesheet indicates a possible conspiracy involving Deepak Kochhar, VN Dhoot, and Videocon Group to manipulate the ownership of the CCI Chambers flat and potentially engage in fraudulent activities related to loans and assets. The case has raised serious concerns about corporate governance and ethics within financial institutions.