A key appellate tribunal has found former ICICI Bank CEO and MD Chanda Kochhar guilty of accepting a ₹64 crore bribe from the Videocon Group, linked to the sanction of a ₹300 crore loan by the bank. The tribunal stated the amount was paid as a quid pro quo after the loan approval, routed through Videocon&rsquo;s SEPL to NuPower Renewables (NRPL), a company controlled by her husband Deepak Kochhar.
In its July 3 order, the tribunal reversed an earlier 2020 ruling by the adjudicating authority that had favoured Kochhar, stating that material facts were overlooked. It also endorsed the Enforcement Directorate&rsquo;s (ED) decision to attach assets worth ₹78 crore, supporting its charges of money laundering and conflict of interest.
The tribunal observed that Kochhar was part of the loan sanctioning committee and failed to disclose her conflict of interest, violating ICICI Bank&rsquo;s internal policies. It further confirmed that statements recorded under Section 50 of the PMLA are admissible as valid evidence, reinforcing the ED&rsquo;s case.
This verdict marks a significant development in the ongoing investigation, paving the way for further legal action against Chanda Kochhar and her associates in the alleged financial misconduct case.
[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed.]
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Former ICICI Bank CEO and MD Chanda Kochhar

Tribunal upholds ED’s charges, overturns earlier relief, confirms bribe in Videocon loan

Chanda Kochhar Guilty in ₹64 Cr Bribery Case

Tribunal upholds ED’s charges, overturns earlier relief, confirms bribe in Videocon loan

July 22, 2025 | 13:42 IST