Questions arise on FM P Chidambaram's silence on ICICI bank- Videocon Rs 40,000 cr loan
Questions arise on Finance Minister P Chidambaram's silence on the ICICI bank- Videocon 40,000 crore rupee loan. ICICI bank in 2012, in consortium with 20 other banks provided Rs.40,000 crore to debt-ridden Videocon group’s oil and gas exploration at Mozambique. In 2013, the public sector undertaking firm of the oil and natural gas commission was asked to buy a 10 percent stake in Videocon’s Mozambique project. For this, ONGC overpaid around 200 million dollars to Videocon. As the Finance Minister during the time investment was made by ONGC, questions arise as to how Chidambaram was not aware of this high volume purchase by ONGC to benefit Videocon. With the CBI and ED putting the scanner on Chanda Kochhar and her husband, the question is whether Chidambaram will be questioned about these dubious deals.
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