ICICI-Videocon case: Mahesh Punglia, Umakant Naik questioned for second timehttps://indianexpress.com/article/business/banking-and-finance/icici-bank-videocon-loan-deal-chanda-kochhar-cbi-probe-5135312/

ICICI-Videocon case: Mahesh Punglia, Umakant Naik questioned for second time

Both Punglia and Naik were directors in NuPower Renewables Pvt Ltd, a company owned by Deepak Kochhar, husband of ICICI Bank Chief Executive Officer & Managing Director Chanda Kochhar.

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Both Punglia and Naik were directors in NuPower Renewables Pvt Ltd, a company owned by Deepak Kochhar. (File Photo)

The Central Bureau of Investigation (CBI) on Thursday questioned Mahesh Chandra Punglia and Umakant Venkat Naik for the second time in connection with its probe into the alleged quid pro quo in the Rs 3,250-crore loan granted by ICICI Bank to Videocon Group in 2012. Both Punglia and Naik were directors in NuPower Renewables Pvt Ltd, a company owned by Deepak Kochhar, husband of ICICI Bank Chief Executive Officer & Managing Director Chanda Kochhar.

Punglia, according to CBI sources, is closely associated with Videocon Group and has been a former employee of the company. Naik, too, is said to be close to the group. Sources said that the two were questioned in Delhi on Thursday and were even made to confront each other.

Both had been earlier questioned by the Central Bureau of Investigation on Saturday at its Mumbai office.