Supreme Court had ruled that the managing director and chair of a private bank are 'public servants' under the provisions of the Prevention of Corruption Act, 1988.
Former ICICI Bank CEO, MD Chanda Kochhar, her husband were arrested by CBI Friday for irregularities in loans worth Rs 3,250 crore sanctioned to the Videocon Group between 2009-12.
CBI arrested Kochhar & others in connection to alleged irregularities in loans sanctioned by the bank to the group in 2012, under the Prevention of Corruption Act, officials said Friday.
The probe is linked to alleged siphoning of bank loan funds in connection with the financing of the oil and gas assets of the business house in Mozambique, official sources said.
The CBI is conducting a full blown investigation into the case which centres around NuPower Renewables, a company operated by Deepak Kochhar, ICICI Bank's former CEO Chanda Kochhar's husband.
RJD, once a prominent representative of Mandal politics, now finds itself in a political era where welfare, good governance, and new aspirations are overshadowing old caste equations.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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