New Delhi, March 2: Former ICICI Bank MD & CEO Chanda Kochhar has been called by Enforcement Directorate (ED) in Mumbai on Saturday for questioning in connection with ICICI Bank-Videocon loan case. Meanwhile, Videocon's Venugopal Dhoot has also been called today. On Friday, the ED had conducted searches at the premises of Kochhar and Venugopal Dhoot of Videocon Group in Mumbai and Aurangabad respectively in connection with a money laundering case. Videocon Loan Case: Deepak Kochhar, Husband of ICICI Bank MD Chanda Kochhar, Slapped With Notice by I-T Department.
According to reports, the development comes weeks after the ED registered a criminal case against them for alleged money laundering. The case was registered under the Prevention of Money Laundering (PMLA) Act. Kochhar and her husband Deepak Kochhar have been booked by the CBI for alleged cheating and corruption in clearing six loans worth Rs 1,875 crore to the Videocon group during her tenure.
Earlier on February 22, the Central Bureau of Investigation (CBI) had issued lookout circulars (LOCs) against Kochhar, her husband Deepak Kochhar and Videocon Group’s Managing Director Dhoot. “The LOCs were issued after the FIR was filed in the case. LOCs are mandatory in cases where such economic offences are alleged,” the official said. Look Out Notice Issued Against Chanda Kochhar, Husband Deepak and Videocon MD Venugopal Dhoot by CBI.
According to a report by ANI, the ED had registered a criminal case last month against Kochhar, her husband, Dhoot and others to probe alleged irregularities and corrupt practices in sanctioning of a Rs 3,250-crore loan by the bank to the corporate group. The CBI is probing if alleged kickbacks were generated in the loan deal and laundered to create tainted assets.