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Videocon Bank Loan Case: Chanda Kochhar Appears Before Enforcement Directorate

Former ICICI Bank managing director and chief executive officer Chanda Kochhar, along with her husband Deepak Kochhar, appeared before the Enforcement Directorate (ED) on Monday for questioning in connection with the Videocon Group bank loan case.

The ED had earlier recorded their statements in Mumbai. Ms. Chanda Kochhar’s brother-in-law Rajiv Kochhar was also quizzed in Mumbai and Delhi.

The ED’s money-laundering probe is based on an FIR registered by the CBI, alleging a quid pro quo of Rs. 64 crore in the form of investments in the company of Ms. Chanda Kochhar’s husband for sanction of loansto Videocon Group companies.

The ED had carried out searches on the premises of the Kochhars and Venugopal Dhoot of the Videocon Group in Mumbai and Aurangabad.

Among those named as accused in the CBI FIR are Videocon International Electronics Ltd. and Videocon Industries Limited, Supreme Energy and NuPower Renewables, a company run by Mr. Deepak Kochhar.―The Hindu

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