Former CEO and MD of ICICI Bank, Chanda Kochhar has informed the Enforcement Directorate (ED) that she was unaware of her husband Deepak Kochhar’s business dealings with Videocon Group MD Venugopal Dhoot when six high-value loans worth Rs 1875 crore were approved by the private lender.
According to ToI, Chanda Kochhar mentioned that the loan worth Rs 64 crore given by Videocon group to Deepak Kochhar’s company NuPower Renewables a day after Rs 300 crore loan was disbursed to Videocon group company by the bank. She further stated that she “didn’t discuss her bank related work with her husband or vice-versa, hence there was no question of taking any favor in lieu of the bank loan,” the daily quoted the high profile banker as saying. The Central Bureau of Investigation (CBI) has alleged that Rs 64 crore loan was used as a kickback to the Kochhars.
ED has reportedly also found that Venugopal Dhoot had made payment to Deepak Kochhar’s company via Mauritius. A letter rogatory or letter of request has been sent to a tax haven to sought payment details.
On February 22, the CBI had issued lookout circulars (LOCs) against Kochhar, her husband Deepak Kochhar and Videocon Group’s Managing Director Venugopal 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, adding, “In recent times, keeping an eye on travel plans is a top concern for regulators.”
Last month, ED had registered a criminal case against the Kochhars, Dhoot and others to investigate alleged irregularities in sanctioning of Rs 3,250 crore loan by the private lender to the corporate group.―Times Now