ED conducted raids in at least five office and residential premises of Chanda Kochhar and Venugopal Dhoot in Mumbai and a few other locations on Friday.
Former ICICI Bank MD and CEO Chanda Kochhar has appeared before the Enforcement Directorate office in Mumbai for questioning along with husband Deepak Kochhar in the ICICI Bank-Videocon loan PMLA case, PTI reported citing officials.
This comes a day after ED searched the premises of Chanda Kochhar and Venugopal Dhoot. The raids have been conducted in at least five office and residential premises in Mumbai and a few other locations, the officials said.
ED 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, Central Bureau of Investigation (CBI) had issued a lookout circular against Chanda Kochhar, 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.
Importantly, 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.