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No criminal conspiracy by ICICI officials in NDTV loan repayment case: CBI

Business Standard LogoBusiness Standard1w ago

No criminal conspiracy by ICICI officials in NDTV loan repayment case: CBI - Business Standard

Quick Summary:

There was no collusion, criminal conspiracy or abuse of position by officials of ICICI Bank in accepting repayment of a loan at a reduced rate of interest from promoters of NDTV Prannoy Roy and Radhika Roy, the CBI has concluded in its closure report in the 2017 case.

The bank had allegedly accepted the repayment of the loan by reducing the interest rate from 19 per cent per annum to 9.5 per causing a wrongful loss of Rs 48 crore to the bank and corresponding gain to the promoters, it had said.

The CBI FIR registered on the basis of a complaint from Sanjay Dutt of Quantum Securities Ltd had alleged that ICICI Bank had sanctioned a loan of Rs 375 crore in 2008 against the entire 61 per cent shareholding of the promoters as collateral.

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Category: BusinessFinance

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 20:39:42 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 860 words

Reading Time: 5 minutes read

Sentences: 25 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23572624

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