- Tuesday, April 23, 2024
By: Radhakrishna N S
INDIAN lender ICICI bank’s former chief executive Chanda Kochhar today (13) appeared before an investigation team in New Delhi.
The former top executive is being questioned inconnection with an alleged bank loan fraud and money laundering case registered against her.
Kochhar, 57, appeared before probe officers at the office of Enforcement Directorate (ED).
ED is India’s law enforcement and economic intelligence agency.
According to the sources, Kochhar is required to support the investigation officers in taking the probe forward.
Her statement will be recorded under the country’s Prevention of Money Laundering Act (PMLA), the sources added.
Kochhar’s husband Deepak Kochhar and his brother Rajiv Kochhar have also been named in the same alleged corruption case.
The trio has also been questioned in the past at the federal probe agency’s office in Mumbai after it conducted raids inconnection with case this year.
The searches were conducted at the premises of Chanda Kochhar and Venugopal Dhoot of Videocon Group in Mumbai and Aurangabad.
A criminal case has been registered by the ED this year against Chanda Kochhar, Deepak Kochhar, Dhoot, and others to investigate alleged corrupt practices in sanctioning of Rs 18.75 billion in loan by the lender to the business.
This action by the ED was based on a first information report (FIR) registered by the country’s federal investigation agency, central bureau of investigation (CBI).
The CBI has named all the three accused and Dhoot’s, Videocon International Electronics Ltd (VIEL) and Videocon Industries Limited (VIL).
Supreme Energy, a firm started by Dhoot and Deepak Kochhar’s NuPower Renewables have also been named in the FIR.
