ICICI Bank share price plunges 6 pct on CBI probe talk

UPDATE 1-India's ICICI Bank shares tumble on probe reports, RBI fine

ICICI Stocks slip to five month low after CBI inquiry in Kochhar Videocon loans case

Dhoot had 50% share in NRPL where as the other 50% shares were owned by Kochhar, and Pacific Capital, a company owned by his father and Chanda Kochhar's brother's wife. The remaining 50% was held by Venugopal Dhoot. Bbr Partners Llc sold 6,587 shares as the company's stock declined 27.74% with the market.

Supreme Energy is 99.9% owned by Dhoot. The institutional investor held 118,158 shares of the consumer electronics and appliances company at the end of 2017Q4, valued at $2.06M, down from 146,299 at the end of the previous reported quarter.

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Bbr Partners Llc, which manages about $7.35B and $533.09 million US Long portfolio, upped its stake in Apple Inc (NASDAQ:AAPL) by 17,282 shares to 27,531 shares, valued at $4.66M in 2017Q4, according to the filing. The current outstanding against this loan is Rs 2810 crore and total current exposure to Videocon group is Rs 2849 crore... He further alleges that ICICI Bank also extended offshore funding amounting to Rs 660 crore to a Videocon Group company based in the Cayman Islands. Besides the inclusion of Kochhar in the credit committee, these may be reasons enough for the bank to do a lot of explaining to defend its decision on the Videocon loan, particularly at a time of back-to-back banks scams. "This is not correct and we deny as we have not invested Rs 64 crore in FCD (fully convertible debentures) of NuPower Renewables", he said and also denied allegations of transferring around Rs 325 crore from Mauritius route to Deepak Kochhar's company. UnitedHealth Group Incorporated (NYSE:UNH) has risen 32.42% since April 2, 2017 and is uptrending. "In view thereof, the board at its meeting approved the redemption on the maturity date along with payment of applicable dividend at the rate of Rs 100 per annum per share of Rs 1 crore each aggregating to Rs 35,000 on the preference shares", it said.

The board of the bank at its meeting held on March 28, 2018 had considered "all the facts" including the internal review undertaken in 2016 when rumours of quid-pro quo regarding the loan provided to Videocon group first originated, the lender said in a filing when exchanges sought comments from the lender.

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Trouble seems to be mounting for ICICI bank CEO and MD Chanda Kochhar's husband Deepak Kochhar as the Income Tax Department has initiated their enquiry in the case.

In the loans extended to the bank in 2012, ICICI says that it was only a part of the 20-bank consortium and didn't even lead it. An I-T source said, Kochhar had allegedly received huge funds, running into hundreds of crores, from overseas entities and the department is investigating the trail of finances and people behind these "investments".

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He claims to have no contact with Deepak or Chanda Kochhar after he returned his stake. It is not known at this stage whether disclosures about Rajiv being an interested party has been made in each instance where loans have been sanctioned or deals have been done by ICICI Bank.

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