The Central Bureau of Investigation (CBI) has registered an FIR in connection with the alleged irregularities in transactions between ICICI Bank, the Videocon Group and NuPower Renewables, a company promoted by former ICICI MD and CEO Chanda Kochhar’s husband Deepak in 2010.
Searches have also been initiated to examine and seize documents pertaining to the case.
“Our teams are conducting searches at four locations. In Mumbai, searches are being conducted at the offices of Videocon, NuPower Renewables and Supreme Energy in Nariman Point, while a Videocon premises in Aurangabad district is also being searched,” a CBI official said.
The issue revolves around the extending of Rs. 3,250 crore loan to Videocon Group by the bank in 2012 and the involvement of Kochhar’s family members in the restructuring of the loan.
Enough material to proceed against Kochhars: PMLA court
Judiciary
Feb 05, 2021
Gautami Chakravarty
(
Editor: Ekta Joshi
)
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In an order that was made available on Wednesday 3rd February, 202, Justice A A Nandgoankar said, "After going through the submissions, written complaints and statements recorded under PMLA, it appears that Chanda Kochhar had misused her official position in granting loan to accused Dhoot and/or Videocon group companies."On January 30, 2021 the special court for Prevention of Money Laundering Act had summoned Kochhar, her husband Deepak Kochhar, Videocon Group promoter Venugopal Dhoot and other...
“Prima Facie Misused her Official Position”: Former ICICI Bank MD and CEO Chanda Kochhar and Husband summoned by PMLA Court [READ ORDER]
Judiciary
Feb 05, 2021
ADITI AGGARWAL
(
Editor: Ekta Joshi
)
9 Shares
An investigation complaint was filed by the Enforcement Directorate in the multi-crore scam (under the Prevention of Money Laundering Act, 2002) against former ICICI Bank MD and CEO Chanda Kochhar and 10 others, including the Videocon Industries Ltd's Managing Direction VN Dhoot, Kochhar and her husband.Taking the cognizance of the same, a special court observed that Chanda Kochhar had prima facie misused her official position in granting loans to accused Videocon group of companies and...
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