New Delhi | July 22, 2025 — In a major verdict, the Appellate Tribunal under the Prevention of Money Laundering Act (PMLA) has held former ICICI Bank CEO Chanda Kochhar guilty of accepting a bribe of ₹64 crore in exchange for sanctioning a ₹300 crore loan to the Videocon Group.
The order dated July 3, 2025, establishes the payment as a “clear case of quid pro quo”, routed through Chanda Kochhar’s husband Deepak Kochhar, via Nupower Renewables Pvt Ltd (NRPL) — a company reportedly controlled by him, despite being owned on paper by Videocon’s Venugopal Dhoot.
“The ownership of M/s NRPL is shown as that of V.N. Dhoot, but control rested with Deepak Kochhar, confirming quid pro quo allegations,” the tribunal ruled.
The court emphasized that evidence, including statements under Section 50 of the PMLA, clearly supports the Enforcement Directorate’s (ED) claim that the ₹64 crore bribe was in exchange for loan favours during Kochhar’s tenure at ICICI Bank.
Key Points
- Accused: Chanda Kochhar, Deepak Kochhar, Venugopal Dhoot
- Loan Amount: ₹300 crore sanctioned to Videocon Group (ICICI Bank)
- Bribe Amount: ₹64 crore allegedly routed to NRPL
- Method: Quid pro quo via shell company
- Investigation By: CBI and ED
- FIR Filed: 2019, under IPC and Prevention of Corruption Act
- Court Ruling: ED’s property attachment justified
🧑⚖️ Background
The Central Bureau of Investigation (CBI) had filed an FIR in 2019, naming Chanda Kochhar, Deepak Kochhar, Venugopal Dhoot, and others. The agencies accused them of criminal conspiracy, cheating, and corruption in connection to ICICI Bank’s sanctioning of loans to Videocon between 2009 and 2011.
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