In October 2018, Chanda Kochhar (Kochhar) announced her resignation as Managing Director and CEO of ICICI Bank , five months before her second term was to end. She also exited from the Board of Directors of ICICI Bank and its subsidiaries. On January 24, 2019, the Central Bureau of Investigation (CBI) conducted raids at four locations in Mumbai and later booked Kochhar for alleged cheating and corruption in sanctioning loans to the Videocon Group , which resulted in a loss of INR1.73 billion to the bank. The CBI alleged that ICICI Bank had sanctioned six high-value loans to Videocon companies between June 2009 and October 2011 and that Kochhar had been part of the sanctioning committee that approved a loan of INR3.0 billion to Videocon International Electronics Ltd (VIEL), and INR7.5 billion to Videocon Industries Ltd (VIL)..

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