The former MD and CEO of ICICI Bank, Chandra Kochhar, has been found guilty of receiving Rs 64 crore bribe in connection with 300 crore loan sanction to the Videocon Group. Tribunal Court in New Delhi has now confirmed the bribery in Videocon case. On July 03, 2025 in New Delhi, an appellate tribunal delivered the ruling confirming that the payment constituted a “clear case of quid pro quo.”
The funds through SEPL, a subsidiary of Videocon, were routed to NuPower Renewables Pvt. Ltd. (NRPL). NRPL is a firm managed by Deepak Kochhar, Chandra Kochar’s husband. The time during which the money was transferred, he was serving as a Managing Director of NRPL.
The verdict aligns with the Enforcement Directorate’s (ED) ongoing investigation, which earlier led to the attachment of assets belonging to the Kochhar family under provisions of the Prevention of Money Laundering Act (PMLA).
Conflict of Interest in Chandra Kochhar Case
The tribunal court has clearly stated in its findings that there was substantial evidence of conflict of interest in the process of loan approval. It stated that the amount of Rs 64 crore was followed shortly after the disbursal of loan which clearly highlight the link between the two transactions. The tribunal remarked,
“We find substance in the allegation… for quid pro quo to Chanda Kochhar for sanction of loan to Videocon Group.”
Chandra Kochhar’s Asset were attached as Investigation Continues
The decision of the ED was upheld by the tribunal court, to attach the assets of Chandra Kochhar. The court has also cited that there was a misuse of the official position that Kochhar was handling.
The case continues to draw attention as it raises critical questions about corporate governance and accountability in India’s financial sector.
Also Read: ICICI, Axis Bank To Move Away From DreamFolks After Lounge Access Disruption
Ankur Mishra is a journalist who covers an extensive range of news, from business, stock markets, IPOs to geopolitics, world affairs, international crises, and general news. With over a decade of experience in the business domain, Ankur has been associated with some of the reputed media brands. Through a sharp eye on global marketplaces along with deep insights and analysis of business strategies, Ankur brings simplicity to the complex economic matrix to decode market trends and empower people.
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