The Central Bureau of Investigation on Monday told a special court here that former ICICI Bank CEO and MD Chanda Kochhar misappropriated the lender’s funds for personal use.

The probe agency, represented by special public prosecutor A. Limosin, made this argument while urging the special court to take cognizance of the chargesheet filed against Chanda Kochhar, her husband Deepak Kochhar and others in a case about cheating and irregularities in sanctioning of loans to Videocon group firms.

Chanda Kochhar was MD and CEO of ICICI Bank between May 2009 and January 2019, in which capacity she was entrusted with the bank’s funds, the CBI told the court.

She was liable to discharge such trust following Reserve Bank of India guidelines and loan policies of ICICI Bank, the CBI argued.

She conspired with the other accused persons to sanction or get sanctioned credit facilities in favour of companies of the Videocon group, the CBI said.

Zee hearing deferred

The Securities Appellate Tribunal (SAT) on Monday deferred the hearing of Zee Entertainment Enterprises’ plea, challenging market regulator Sebi’s interim order, to June 27.

Last week, the SAT refused to give any interim relief to Essel group chairman Subash Chandra and his son Punit Goenka after the markets regulator barred them from holding the position of a director or key managerial personnel in any listed company. PTI