Kolkata Police-CBI clash: Mamata sits on dharna, attacks PM Modi over raids

Current Affairs:

High drama unfolded in Kolkata on Sunday in a CBI vs city police face-off, prompting Chief Minister Mamata Banerjee to stage a dharna at the Metro Channel.

Around 6pm, 40 CBI officers reached Police Commissioner Rajeev Kumar’s residence over alleged involvement in chit fund scams linked to Saradha and Rose Valley.

The Kolkata Police is believed to have sought a search warrant. Central Bureau of Investigation (CBI) officers’ failure to produce one led the police to detain some officers, who were whisked away in jeeps. There are contradictory reports on whether they were arrested. In a retaliatory move, Kolkata Police also landed at the CGO Complex, the CBI headquarters in the state.

Banerjee rushed to Loudon Street, the Commissioner's residence, to take stock of the situation and threw her weight behind Kumar.

“This has happened a day after (PM) Modi was here,” she said, addressing the media. She also said Ajit Doval (National Security Advisor) was implementing Modi's agenda and he was giving instruction to the CBI.


 "Whenever an election comes, there is some issue around chit fund,” said Banerjee, challenging that Kumar's link with chit fund be proved. Kumar was leading the SIT probe in the Saradha scam...Read More

CBI closes in on Chanda Kochhar, husband in ICICI Bank-Videocon loan case

Finance News:

The Central Bureau of Investigation (CBI) has named ICICI Bank’s former managing director and chief executive officer (MD and CEO) Chanda Kochhar and her husband Deepak Kochhar, along with his firms, as “accused” in the Rs 3,250-crore Videocon loan case.

The first information report (FIR) registered on Thursday said the accused, including Videocon Industries (VIL) and its chairman and MD, Venugopal Dhoot, sanctioned certain loans to private companies in a criminal conspiracy and cheated ICICI Bank to the tune of Rs 1,730 crore.

Explaining the modus operandi, the CBI said ICICI Bank sanctioned credit facilities of Rs 3,250 crore to several companies belonging to Videocon group such as Trend Electronics, Century Appliances and others which were in violation of the Banking Regulation Act, Reserve Bank of India rules and the bank’s credit policy. The Rs 3,250-crore credit amount was part of a total loan of Rs 40,000 crore sanctioned to the Videocon group by a 20-bank consortium.


 The agency said it had investigated the quid pro quo where Dhoot made an investment of Rs 64 crore in Deepak Kochhar’s NuPower Renewables through his firm Supreme Energy (SEPL). Dhoot also transferred the same to Pinnacle Energy managed by Kochhar through a “circuitous route” between 2010 and 2012...Read More