In connection with the Videocon loan case, the Enforcement Directorate (ED) has conducted searches at premises of Chanda Kochhar and Venugopal Dhoot, PTI reported officials as saying.
The Enforcement Directorate (ED) has conducted searches at premises of Chanda Kochhar and Venugopal Dhoot, In connection with the ICICI Bank-Videocon loan case, PTI reported citing officials. The premises of the former MD & CEO of ICICI Bank were searched this morning as part of the ongoing probe into the ICICI Bank-Videocon loan PMLA case, said officials.
The raids are being carried out in at least five office and residential premises in Mumbai and a few other locations, added the officials. The agency had registered a case under the Prevention of Money Laundering Act (PMLA) earlier this month against Chanda Kochhar, her husband Deepak Kochhar, Dhoot and others to probe alleged improprieties and a possible quid pro quo in sanctioning of Rs 1,875-crore loans by the ICICI bank to the corporate group.
Earlier last week, in fresh trouble for former ICICI Bank MD & CEO Chanda Kochhar, Central Bureau of Investigation (CBI) had issued a look out circular against her. It came days after the investigating agency registered a case against her in the ICICI Bank-Videocon loan case.
The high-profile case involving the former MD and CEO of ICICI Bank has assumed heightened focus after it led to the unceremonial exit of Kochar from the bank amid allegations of impropriety in giving a loan to a company related to her husband’s business. CBI last month registered an FIR against Chanda Kochhar, her husband Deepak Kochhar, and Videocon group’s promoter Venugopal Dhoot.
Notably, the CBI has named Supreme Energy, a company founded by Venugopal Dhoot, and Nupower Renewables, a company controlled by Deepak Kochhar, in the FIR. The ownership of Nupower and Supreme Energy changed hands through a complex web of shared transactions between Deepak Kochhar and Dhoot, PTI reported CBI as having alleged.