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Updated on: Wednesday, August 25, 2021, 02:12 AM IST

ED submits draft charges against Chanda Kochhar, other accused in money laundering case

The court, set up under the Prevention of Money Laundering Act, fixed September 6 for framing of charges in the ICICI Bank-Videocon money laundering case
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Mumbai: The Enforcement Directorate (ED) submitted its proposed charges before a special Prevention of Money Laundering Act (PMLA) court on Tuesday in the loan fraud case concerning ICICI bank’s former MD and CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon’s promoter Venugopal Dhoot.

As per the ED’s case in the chargesheet, a day after ICICI Bank sanctioned Rs 300 crore to Videocon International Electronics Limited (VIEL), Rs 64 crore was sent by Dhoot through a company to another firm, Nupower Renewables Private Limited, managed and controlled by Deepak Kochhar. Chanda Kochhar was a chairperson of the committee, which had sanctioned the loan.

An amount of Rs 1,575 crore, sanctioned by ICICI to Videocon Group companies, had turned into non-performing assets.

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Published on: Wednesday, August 25, 2021, 02:12 AM IST
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