‘Deepak Kochhar, Videocon had appointed dummy directors’

New Delhi: In a new twist, the Enforcement Directorate (ED) found that the companies owned by Deepak Kocchar and the Videocon group had appointed 'dummy' directors, according to media reports.

While investigating, ED found that at least six such appointments were made where these directors had nothing to do with the company’s core operations to hide ownership, evade tax and launder money, a Business Standard report stated. Deepak is former ICICI Bank's Managing Director and CEO Chanda Kochhar’s husband.

These dummy representatives have reportedly admitted that they had signed off on several documents following instructions of their bosses. ED sleuths are learnt to have recorded these statements as part of the probe into the Rs 3,250-crore ICICI Bank-Videocon loan case.

On the board of Real Cleantech Private (RCPL), a Videocon group firm, was Lakshmikant Sudhakar Katore, a gardener at Videocon Ind Chair Venugopal Dhoot’s house. Indian Refrigerator, another Videocon Group firm, has three names on its board all of whom allegedly acted as dummy directors.

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