ICICI Bank says no favour done to Videocon, answered regulator's queries

The bank has been accused of nepotism and quid pro quo in extending credit to the Videocon group and its associate, NuPower Renewables

Did ICICI Bank extend favours to the Videocon group and its chairman Venugopal Dhoot by giving the group an easy loan? ICICI Bank on Thursday said it had responded satisfactorily to queries from regulators over the alleged favours. Dhoot also denied any impropriety in its transactions with NuPower Renewables.

The bank’s Chairman M K Sharma said, “There have also been questions raised as to whether the regulators reached out to us with queries. I would like to clearly state that we always satisfactorily reply to questions of regulators.” ICICI Bank, however, did not specifically name any regulator.

The bank also