NEW DELHI: Former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar have been wondered on Monday for over eight hours by way of the Enforcement Directorate when they appeared earlier than it in connection with an alleged bank mortgage fraud and cash laundering case registered against them.
The couple arrived on the Enforcement Directorate's headquarters in Khan Market right here in a while earlier than their scheduled appearance time of 11 am, respectable resources stated.
They have been allowed to leave just earlier than 8 pm, they stated.
While it was once no longer immediately referred to as to what was once the ED's line of wondering, resources stated that the two have been required to assist the investigating officer (IO) of the case in taking the probe forward.
Sources stated their remark was once recorded below the Prevention of Money Laundering Act (PMLA).
It is expected that the two could also be wondered once more on Tuesday.
The Kochhars have been meant to depose earlier than the agency early this month however that they had then sought extension of time and have been allowed, they stated.
Chanda Kochhar's brother-in-law and Deepak's brother, Rajiv Kochhar, has also been grilled by way of the ED a couple of times in the case a few days in the past right here.
Rajiv Kochhar has been wondered by way of the CBI in the same case up to now as well.
He is the founder of Singapore-based Avista Advisory and was once wondered about his company's function in the restructuring of the mortgage by way of the CBI, the resources stated.
Rajiv Kochhar was once asked by way of the CBI sleuths about the help he had extended to Videocon relating to the mortgage from ICICI Bank, which was once a part of a Rs 400-billion credit score given by way of a consortium of 20 banks to the group of primary promoter, Venugopal Dhoot.
The Kochhar couple have been wondered up to now too on the ED zonal office in Mumbai after the central agency conducted raids in this case on March 1.
The searches have been conducted on the premises of Chanda Kochhar, her circle of relatives and Venugopal Dhoot of Videocon Group in Maharashtra's Mumbai and Aurangabad.
The ED has registered a prison case below the PMLA early this 12 months against Chanda Kochhar, Deepak Kochhar, Dhoot and others to probe alleged irregularities and corrupt practices in sanctioning Rs 1,875-crore loans by way of ICICI Bank to the corporate workforce.
This motion of the agency was once in keeping with an FIR registered by way of the CBI.
The CBI has named all the three and Dhoot's corporations - Videocon International Electronics Ltd (VIEL) and Videocon Industries Limited (VIL) - in its case.
The anti-corruption probe agency also named Supreme Energy, an organization based by way of Dhoot, and NuPower Renewables, an organization managed by way of Deepak Kochhar, in the FIR.
It has slapped sections of the Indian Penal Code associated with prison conspiracy, cheating and provisions of the Prevention of Corruption Act on all the accused.
The CBI alleged that Dhoot had invested in Nupower through his firm Supreme Energy in a quid pro quo to loans cleared by way of ICICI Bank after Chanda Kochhar took over because the CEO of the bank on May 1, 2009.
The ownership of Nupower and Supreme Energy changed palms through a fancy web of shared transactions between Deepak Kochhar and Dhoot, the CBI alleged.
During its preliminary enquiry, the CBI discovered that six loans value Rs 1,875 crore have been sanctioned to the Videocon Group and companies associated with it between June, 2009 and October, 2011 in alleged violation of laid-down insurance policies of ICICI Bank, which have now become a part of the probe.
"Existing outstanding in the accounts of these private group companies were adjusted in Rupee Term Loan of Rs 1,730 crore sanctioned by ICICI Bank under refinance of domestic debt under consortium arrangement on April 26, 2012," a CBI spokesperson had stated.
The loans have been declared non-performing assets in 2012, causing a lack of Rs 1,730 crore to the bank, it alleged.
The ED, the resources stated, could also be probing a minimum of two different cases of loans given by way of ICICI Bank (throughout Chanda Kochhar's tenure) to Gujarat-based pharmaceutical firm Sterling Biotech and to Bhushan Steel workforce.
Chanda Kochhar and Deepak Kochhar also are expected to be asked questions on those loans as well, they stated.
The agency is investigating those two cases of alleged bank mortgage fraud below the PMLA.
The couple arrived on the Enforcement Directorate's headquarters in Khan Market right here in a while earlier than their scheduled appearance time of 11 am, respectable resources stated.
They have been allowed to leave just earlier than 8 pm, they stated.
While it was once no longer immediately referred to as to what was once the ED's line of wondering, resources stated that the two have been required to assist the investigating officer (IO) of the case in taking the probe forward.
Sources stated their remark was once recorded below the Prevention of Money Laundering Act (PMLA).
It is expected that the two could also be wondered once more on Tuesday.
The Kochhars have been meant to depose earlier than the agency early this month however that they had then sought extension of time and have been allowed, they stated.
Chanda Kochhar's brother-in-law and Deepak's brother, Rajiv Kochhar, has also been grilled by way of the ED a couple of times in the case a few days in the past right here.
Rajiv Kochhar has been wondered by way of the CBI in the same case up to now as well.
He is the founder of Singapore-based Avista Advisory and was once wondered about his company's function in the restructuring of the mortgage by way of the CBI, the resources stated.
Rajiv Kochhar was once asked by way of the CBI sleuths about the help he had extended to Videocon relating to the mortgage from ICICI Bank, which was once a part of a Rs 400-billion credit score given by way of a consortium of 20 banks to the group of primary promoter, Venugopal Dhoot.
The Kochhar couple have been wondered up to now too on the ED zonal office in Mumbai after the central agency conducted raids in this case on March 1.
The searches have been conducted on the premises of Chanda Kochhar, her circle of relatives and Venugopal Dhoot of Videocon Group in Maharashtra's Mumbai and Aurangabad.
The ED has registered a prison case below the PMLA early this 12 months against Chanda Kochhar, Deepak Kochhar, Dhoot and others to probe alleged irregularities and corrupt practices in sanctioning Rs 1,875-crore loans by way of ICICI Bank to the corporate workforce.
This motion of the agency was once in keeping with an FIR registered by way of the CBI.
The CBI has named all the three and Dhoot's corporations - Videocon International Electronics Ltd (VIEL) and Videocon Industries Limited (VIL) - in its case.
The anti-corruption probe agency also named Supreme Energy, an organization based by way of Dhoot, and NuPower Renewables, an organization managed by way of Deepak Kochhar, in the FIR.
It has slapped sections of the Indian Penal Code associated with prison conspiracy, cheating and provisions of the Prevention of Corruption Act on all the accused.
The CBI alleged that Dhoot had invested in Nupower through his firm Supreme Energy in a quid pro quo to loans cleared by way of ICICI Bank after Chanda Kochhar took over because the CEO of the bank on May 1, 2009.
The ownership of Nupower and Supreme Energy changed palms through a fancy web of shared transactions between Deepak Kochhar and Dhoot, the CBI alleged.
During its preliminary enquiry, the CBI discovered that six loans value Rs 1,875 crore have been sanctioned to the Videocon Group and companies associated with it between June, 2009 and October, 2011 in alleged violation of laid-down insurance policies of ICICI Bank, which have now become a part of the probe.
"Existing outstanding in the accounts of these private group companies were adjusted in Rupee Term Loan of Rs 1,730 crore sanctioned by ICICI Bank under refinance of domestic debt under consortium arrangement on April 26, 2012," a CBI spokesperson had stated.
The loans have been declared non-performing assets in 2012, causing a lack of Rs 1,730 crore to the bank, it alleged.
The ED, the resources stated, could also be probing a minimum of two different cases of loans given by way of ICICI Bank (throughout Chanda Kochhar's tenure) to Gujarat-based pharmaceutical firm Sterling Biotech and to Bhushan Steel workforce.
Chanda Kochhar and Deepak Kochhar also are expected to be asked questions on those loans as well, they stated.
The agency is investigating those two cases of alleged bank mortgage fraud below the PMLA.
ICICI-Videocon loan case: ED grills Chanda Kochhar for 8 hours
![ICICI-Videocon loan case: ED grills Chanda Kochhar for 8 hours]()
Reviewed by Kailash
on
May 14, 2019
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